SevenBridge Financial Group LLC Trims Stock Position in AT&T Inc. (NYSE:T)

SevenBridge Financial Group LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 7.6% in the fourth quarter, HoldingsChannel reports. The fund owned 10,256 shares of the technology company’s stock after selling 849 shares during the quarter. SevenBridge Financial Group LLC’s holdings in AT&T were worth $258,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. OneAscent Financial Services LLC increased its holdings in shares of AT&T by 14.8% during the 4th quarter. OneAscent Financial Services LLC now owns 44,569 shares of the technology company’s stock worth $1,015,000 after buying an additional 5,750 shares during the last quarter. Ardmore Road Asset Management LP grew its position in AT&T by 66.7% during the fourth quarter. Ardmore Road Asset Management LP now owns 1,500,000 shares of the technology company’s stock valued at $34,155,000 after acquiring an additional 600,000 shares during the period. Private Portfolio Partners LLC increased its stake in AT&T by 4.9% during the fourth quarter. Private Portfolio Partners LLC now owns 18,144 shares of the technology company’s stock worth $413,000 after acquiring an additional 841 shares during the last quarter. Intrepid Capital Management Inc. raised its holdings in shares of AT&T by 21.8% in the 4th quarter. Intrepid Capital Management Inc. now owns 18,073 shares of the technology company’s stock worth $412,000 after purchasing an additional 3,234 shares during the period. Finally, RFG Bristol Wealth Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $259,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on T. UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup raised their target price on shares of AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Monday. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Oppenheimer upped their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.21.

AT&T Price Performance

Shares of T stock opened at $28.13 on Thursday. The firm has a fifty day moving average of $26.06 and a two-hundred day moving average of $23.67. The firm has a market cap of $201.92 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $28.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 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%. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, April 10th. AT&T’s dividend payout ratio is currently 74.50%.

AT&T 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.