Addenda Capital Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Addenda Capital Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 326,075 shares of the technology company’s stock after selling 928 shares during the period. Addenda Capital Inc.’s holdings in AT&T were worth $7,425,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Amplius Wealth Advisors LLC grew its stake in shares of AT&T by 8.4% in the 4th quarter. Amplius Wealth Advisors LLC now owns 12,882 shares of the technology company’s stock worth $293,000 after buying an additional 994 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of AT&T by 24.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 17,124 shares of the technology company’s stock worth $390,000 after acquiring an additional 3,384 shares during the last quarter. Gemmer Asset Management LLC bought a new stake in shares of AT&T in the 4th quarter worth about $233,000. Union Savings Bank lifted its holdings in shares of AT&T by 32.9% in the 4th quarter. Union Savings Bank now owns 15,688 shares of the technology company’s stock worth $357,000 after acquiring an additional 3,881 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in AT&T by 3.1% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 50,397 shares of the technology company’s stock valued at $1,148,000 after buying an additional 1,527 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 1.2 %

Shares of T opened at $22.30 on Tuesday. The stock has a market capitalization of $159.97 billion, a PE ratio of 18.13, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. 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 company’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $21.35.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on T shares. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective on the stock. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Company 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.