Hartford Investment Management Co. Sells 10,022 Shares of AT&T Inc. (NYSE:T)

Hartford Investment Management Co. cut its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 481,476 shares of the technology company’s stock after selling 10,022 shares during the period. Hartford Investment Management Co.’s holdings in AT&T were worth $8,079,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of T. Carmel Capital Partners LLC boosted its position in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the last quarter. FWL Investment Management LLC bought a new position in AT&T in the 4th quarter valued at $31,000. Financial Freedom LLC bought a new position in AT&T in the 4th quarter valued at $34,000. Lipe & Dalton bought a new position in AT&T in the 3rd quarter valued at $30,000. Finally, Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter valued at $30,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.1 %

Shares of T traded up $0.01 during midday trading on Wednesday, hitting $17.53. The stock had a trading volume of 20,062,625 shares, compared to its average volume of 38,477,297. The firm has a market cap of $125.39 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 2.64 and a beta of 0.57. The company has a 50 day simple moving average of $17.17 and a two-hundred day simple moving average of $16.36. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. AT&T’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on T. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.61.

Read Our Latest Research Report on T

AT&T Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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