Center for Financial Planning Inc. Reduces Stock Position in AT&T Inc. (NYSE:T)

Center for Financial Planning Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 14.5% in the 4th quarter, HoldingsChannel reports. The fund owned 13,654 shares of the technology company’s stock after selling 2,320 shares during the quarter. Center for Financial Planning Inc.’s holdings in AT&T were worth $311,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northeast Investment Management raised its stake in shares of AT&T by 0.9% in the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after acquiring an additional 451 shares in the last quarter. Chesapeake Wealth Management raised its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. raised its stake in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC raised its stake in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC raised its stake in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price target on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group raised their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup raised their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

NYSE T opened at $25.88 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93. The business’s 50-day moving average price is $23.19 and its 200 day moving average price is $21.99. The firm has a market cap of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts expect that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.