Ignite Planners LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Ignite Planners LLC cut its holdings in AT&T Inc. (NYSE:T) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,318 shares of the technology company’s stock after selling 10,787 shares during the quarter. Ignite Planners LLC’s holdings in AT&T were worth $1,617,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of T. Breakwater Capital Group raised its position in shares of AT&T by 30.6% during the 4th quarter. Breakwater Capital Group now owns 48,735 shares of the technology company’s stock valued at $1,110,000 after buying an additional 11,429 shares in the last quarter. Mendota Financial Group LLC boosted its stake in AT&T by 14,677.8% during the fourth quarter. Mendota Financial Group LLC now owns 2,660 shares of the technology company’s stock worth $61,000 after buying an additional 2,642 shares during the period. Graves Light Lenhart Wealth Inc. increased its position in AT&T by 8.6% during the fourth quarter. Graves Light Lenhart Wealth Inc. now owns 21,712 shares of the technology company’s stock valued at $494,000 after acquiring an additional 1,711 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of AT&T by 30.9% in the 4th quarter. Rosenberg Matthew Hamilton now owns 6,632 shares of the technology company’s stock worth $151,000 after acquiring an additional 1,567 shares during the last quarter. Finally, Shira Ridge Wealth Management bought a new position in AT&T during the 4th quarter valued at about $238,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.6 %

Shares of T stock opened at $21.56 on Tuesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm has a market capitalization of $154.70 billion, a PE ratio of 17.53, a P/E/G ratio of 3.60 and a beta of 0.59. 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 stock’s 50-day simple moving average is $22.81 and its 200-day simple moving average is $21.26.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the company earned $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Oppenheimer assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

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.