Boltwood Capital Management Lowers Holdings in AT&T Inc. (NYSE:T)

Boltwood Capital Management decreased its stake in shares of AT&T Inc. (NYSE:T) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,073 shares of the technology company’s stock after selling 12,159 shares during the period. Boltwood Capital Management’s holdings in AT&T were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of T. Legacy Wealth Management LLC MS raised its holdings in AT&T by 8.8% in the 4th quarter. Legacy Wealth Management LLC MS now owns 51,519 shares of the technology company’s stock worth $1,173,000 after purchasing an additional 4,157 shares during the period. Pensionfund Sabic increased its position in AT&T by 28.2% in the fourth quarter. Pensionfund Sabic now owns 113,500 shares of the technology company’s stock worth $2,584,000 after buying an additional 25,000 shares in the last quarter. Centre Asset Management LLC lifted its position in shares of AT&T by 7.5% during the 4th quarter. Centre Asset Management LLC now owns 93,950 shares of the technology company’s stock valued at $2,139,000 after buying an additional 6,550 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of AT&T by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 143,063 shares of the technology company’s stock valued at $3,258,000 after buying an additional 11,088 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of AT&T by 42.6% during the 4th quarter. Versant Capital Management Inc now owns 8,740 shares of the technology company’s stock valued at $199,000 after acquiring an additional 2,610 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.6 %

Shares of AT&T stock traded down $0.13 on Monday, reaching $22.54. The company had a trading volume of 12,350,626 shares, compared to its average volume of 21,797,539. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm’s 50 day moving average price is $22.82 and its two-hundred day moving average price is $21.11. The firm has a market cap of $161.73 billion, a PE ratio of 18.33, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business 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 firm posted $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on T. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $26.00 in a research report on Monday. Sanford C. Bernstein initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.