Schmidt P J Investment Management Inc. Sells 5,138 Shares of AT&T Inc. (NYSE:T)

Schmidt P J Investment Management Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 31.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,978 shares of the technology company’s stock after selling 5,138 shares during the period. Schmidt P J Investment Management Inc.’s holdings in AT&T were worth $190,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

T has been the topic of several research analyst reports. Tigress Financial increased their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft increased their price target 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, Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Performance

AT&T stock opened at $16.31 on Friday. The company has a 50 day moving average price of $17.10 and a 200-day moving average price of $16.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.99. The company has a market capitalization of $116.66 billion, a PE ratio of 8.32, a P/E/G ratio of 2.48 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings results 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). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the prior year, the firm posted $0.61 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 56.63%.

AT&T Company 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.