AdvisorNet Financial Inc Sells 665 Shares of AT&T Inc. (NYSE:T)

AdvisorNet Financial Inc lowered its position in shares of AT&T Inc. (NYSE:T) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,860 shares of the technology company’s stock after selling 665 shares during the quarter. AdvisorNet Financial Inc’s holdings in AT&T were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of T. Pallas Capital Advisors LLC boosted its stake in AT&T by 8.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 60,994 shares of the technology company’s stock worth $1,389,000 after purchasing an additional 4,784 shares in the last quarter. Horizon Wealth Management LLC raised its holdings in AT&T by 3.9% in the fourth quarter. Horizon Wealth Management LLC now owns 39,741 shares of the technology company’s stock worth $905,000 after buying an additional 1,476 shares during the last quarter. Sunflower Bank N.A. lifted its stake in shares of AT&T by 8.9% in the fourth quarter. Sunflower Bank N.A. now owns 19,449 shares of the technology company’s stock worth $443,000 after buying an additional 1,594 shares in the last quarter. Elevated Capital Advisors LLC grew its holdings in shares of AT&T by 1.5% during the fourth quarter. Elevated Capital Advisors LLC now owns 50,470 shares of the technology company’s stock valued at $1,149,000 after buying an additional 760 shares during the last quarter. Finally, Bar Harbor Wealth Management raised its holdings in AT&T by 3.1% in the 4th quarter. Bar Harbor Wealth Management now owns 32,841 shares of the technology company’s stock worth $748,000 after acquiring an additional 1,001 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Sanford C. Bernstein initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their price objective 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. Finally, The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Performance

T opened at $21.90 on Thursday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. 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 firm has a market cap of $157.14 billion, a P/E ratio of 17.80, a PEG ratio of 3.60 and a beta of 0.59. The company has a 50 day simple moving average of $22.80 and a two-hundred day simple moving average of $21.28.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.07%. AT&T’s dividend payout ratio is currently 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.