Hartford Investment Management Co. Sells 8,571 Shares of AT&T Inc. (NYSE:T)

Hartford Investment Management Co. reduced its holdings in AT&T Inc. (NYSE:T) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 443,047 shares of the technology company’s stock after selling 8,571 shares during the period. Hartford Investment Management Co.’s holdings in AT&T were worth $10,088,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB grew its holdings in shares of AT&T by 305.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after purchasing an additional 1,161,152 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of AT&T by 21.2% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 30,358 shares of the technology company’s stock worth $668,000 after purchasing an additional 5,320 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $72,000. Fiduciary Alliance LLC grew its holdings in shares of AT&T by 66.8% during the 3rd quarter. Fiduciary Alliance LLC now owns 19,924 shares of the technology company’s stock worth $438,000 after purchasing an additional 7,978 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of AT&T by 802.0% during the 3rd quarter. CX Institutional now owns 288,802 shares of the technology company’s stock worth $6,354,000 after purchasing an additional 256,785 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.2 %

T stock opened at $25.16 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market capitalization of $180.50 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.79 and a beta of 0.59. The business has a 50-day moving average of $23.09 and a 200-day moving average of $21.90. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $25.18.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.41%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Ratings Changes

T has been the topic of several recent analyst reports. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup lifted their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Tigress Financial boosted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Company Profile

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.