Parsons Capital Management Inc. RI Has $669,000 Stake in AT&T Inc. (NYSE:T)

Parsons Capital Management Inc. RI trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,382 shares of the technology company's stock after selling 19,777 shares during the period. Parsons Capital Management Inc. RI's holdings in AT&T were worth $669,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in AT&T during the fourth quarter worth approximately $34,000. Safe Harbor Fiduciary LLC acquired a new position in AT&T during the third quarter worth approximately $35,000. Finally, Reston Wealth Management LLC purchased a new position in AT&T during the third quarter worth approximately $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock traded down $0.17 during midday trading on Wednesday, reaching $24.23. 34,414,203 shares of the company were exchanged, compared to its average volume of 39,085,855. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.98. 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 has a market cap of $173.89 billion, a P/E ratio of 19.70, a PEG ratio of 3.50 and a beta of 0.59. The company's 50 day moving average price is $22.86 and its two-hundred day moving average price is $21.55.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, January 10th. AT&T's dividend payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Barclays raised their price target on shares of AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Sanford C. Bernstein increased their price target on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on AT&T from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.11.

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.