Advisors Management Group Inc. ADV Reduces Stock Position in AT&T Inc. (NYSE:T)

Advisors Management Group Inc. ADV cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 95.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,051 shares of the technology company's stock after selling 379,695 shares during the period. Advisors Management Group Inc. ADV's holdings in AT&T were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter worth $23,888,000. International Assets Investment Management LLC bought a new position in shares of AT&T during the 4th quarter worth about $14,700,000. Swiss National Bank grew its stake in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock valued at $468,217,000 after buying an additional 104,700 shares during the period. Franklin Resources Inc. increased its position in AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock valued at $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Finally, Caprock Group LLC raised its stake in AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock worth $4,312,000 after buying an additional 30,281 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T stock traded up $0.11 during mid-day trading on Thursday, hitting $22.02. The company had a trading volume of 25,633,068 shares, compared to its average volume of 34,232,238. 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 firm has a market cap of $157.96 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock's fifty day moving average price is $22.79 and its two-hundred day moving average price is $21.28.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business 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 business earned $0.64 earnings per share. AT&T's revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.2 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 Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.04%. The ex-dividend date is Friday, January 10th. AT&T's dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on T. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. Argus raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 price objective for the company. Finally, Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.83.

AT&T 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.