Lebenthal Global Advisors LLC Sells 1,000 Shares of AT&T Inc. (NYSE:T)

Lebenthal Global Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,548 shares of the technology company’s stock after selling 1,000 shares during the period. Lebenthal Global Advisors LLC’s holdings in AT&T were worth $263,000 as of its most recent SEC filing.

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

AT&T Stock Up 1.2 %

T stock opened at $24.43 on Wednesday. The company has a market cap of $175.26 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. 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 business’s 50-day moving average is $22.83 and its two-hundred day moving average is $21.51. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $26.06.

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.