US Asset Management LLC Sells 673 Shares of AT&T Inc. (NYSE:T)

US Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,527 shares of the technology company’s stock after selling 673 shares during the quarter. US Asset Management LLC’s holdings in AT&T were worth $422,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Diversify Wealth Management LLC lifted its holdings in shares of AT&T by 16.1% in the fourth quarter. Diversify Wealth Management LLC now owns 21,155 shares of the technology company’s stock valued at $459,000 after purchasing an additional 2,936 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in AT&T by 4.6% during the 4th quarter. Daymark Wealth Partners LLC now owns 27,784 shares of the technology company’s stock valued at $633,000 after acquiring an additional 1,212 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in AT&T by 32.4% during the 4th quarter. Magnus Financial Group LLC now owns 26,281 shares of the technology company’s stock worth $598,000 after acquiring an additional 6,436 shares during the last quarter. Marino Stram & Associates LLC grew its stake in shares of AT&T by 4.0% in the 4th quarter. Marino Stram & Associates LLC now owns 13,477 shares of the technology company’s stock worth $307,000 after acquiring an additional 516 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of AT&T by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,254,967 shares of the technology company’s stock valued at $51,346,000 after purchasing an additional 22,342 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on T shares. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. TD Securities upped their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Down 0.9%

T opened at $27.22 on Friday. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03. The company has a market cap of $195.86 billion, a PE ratio of 18.27, a price-to-earnings-growth 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. The company has a 50 day moving average of $27.29 and a 200 day moving average of $25.05.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is presently 68.10%.

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.