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

AdvisorNet Financial Inc lessened its stake in AT&T Inc. (NYSE:T) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor 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.

Other large investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter worth $30,000. Reston Wealth Management LLC purchased a new position in shares of AT&T during the third quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T during the third quarter valued at $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.5 %

NYSE:T opened at $21.90 on Thursday. The company’s fifty day moving average price is $22.80 and its 200-day moving average price is $21.28. The firm has a market capitalization of $157.14 billion, a P/E ratio of 17.80, a PEG ratio of 3.60 and a beta of 0.59. 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.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.07%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. Oppenheimer started coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Sanford C. Bernstein started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

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.