Pekin Hardy Strauss Inc. Sells 49,383 Shares of AT&T Inc. (NYSE:T)

Pekin Hardy Strauss Inc. cut its holdings in AT&T Inc. (NYSE:T) by 64.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,367 shares of the technology company’s stock after selling 49,383 shares during the period. Pekin Hardy Strauss Inc.’s holdings in AT&T were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of T. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. JB Capital LLC lifted its holdings in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after purchasing an additional 614 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its position in shares of AT&T by 0.6% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 630 shares during the period. Schubert & Co increased its stake in shares of AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after purchasing an additional 631 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in shares of AT&T by 4.5% during the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock valued at $270,000 after purchasing an additional 678 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T opened at $16.90 on Wednesday. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The stock has a fifty day moving average price of $16.97 and a 200-day moving average price of $16.62. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm has a market cap of $120.85 billion, a PE ratio of 9.08, a P/E/G ratio of 3.38 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on T. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Tigress Financial lifted their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

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.