Acorn Wealth Advisors LLC Cuts Position in AT&T Inc. (NYSE:T)

Acorn Wealth Advisors LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,915 shares of the technology company’s stock after selling 1,555 shares during the period. Acorn Wealth Advisors LLC’s holdings in AT&T were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank grew its stake in 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 acquiring an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its stake 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 acquiring an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp increased its holdings in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC raised its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Up 0.4 %

Shares of T opened at $26.74 on Tuesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.13. The company’s fifty day moving average is $23.58 and its two-hundred day moving average is $22.38. The firm has a market cap of $191.91 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

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.