Focus Partners Advisor Solutions LLC Sells 63,701 Shares of AT&T Inc. (NYSE:T)

Focus Partners Advisor Solutions LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 32.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 131,335 shares of the technology company’s stock after selling 63,701 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in AT&T were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in T. 1620 Investment Advisors Inc. lifted its position in shares of AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after acquiring an additional 421 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares during the period. BNP Paribas lifted its holdings in AT&T by 1.0% in the 4th quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock worth $942,000 after purchasing an additional 430 shares in the last quarter. Whittier Trust Co. lifted its holdings in AT&T by 0.7% in the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after purchasing an additional 433 shares in the last quarter. Finally, Wealthstream Advisors Inc. boosted its stake in AT&T by 3.7% in the 4th quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company’s stock worth $282,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on T. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Trading Down 1.1%

Shares of T opened at $27.47 on Thursday. The company’s fifty day simple moving average is $27.28 and its 200-day simple moving average is $25.01. The company has a market cap of $197.63 billion, a P/E ratio of 18.43, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.04%. AT&T’s payout ratio is 68.10%.

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.