Douglas Lane & Associates LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Douglas Lane & Associates LLC lowered its holdings in AT&T Inc. (NYSE:T) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 276,417 shares of the technology company’s stock after selling 18,870 shares during the quarter. Douglas Lane & Associates LLC’s holdings in AT&T were worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in AT&T during the fourth quarter valued at approximately $14,700,000. Park National Corp OH raised its stake in AT&T by 1.1% during the 4th quarter. Park National Corp OH now owns 62,854 shares of the technology company’s stock valued at $1,431,000 after buying an additional 677 shares during the last quarter. Peoples Bank KS lifted its holdings in shares of AT&T by 5.1% during the 4th quarter. Peoples Bank KS now owns 30,238 shares of the technology company’s stock valued at $688,000 after buying an additional 1,475 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of AT&T in the 4th quarter worth $284,000. Finally, Diversified Trust Co grew its holdings in shares of AT&T by 0.7% in the fourth quarter. Diversified Trust Co now owns 170,419 shares of the technology company’s stock worth $3,880,000 after acquiring an additional 1,192 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on T. JPMorgan Chase & Co. raised their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Stock Performance

AT&T stock opened at $22.20 on Thursday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The firm’s 50 day moving average price is $22.83 and its 200-day moving average price is $21.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market cap of $159.29 billion, a P/E ratio of 18.05, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. On average, equities analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.