Whitener Capital Management Inc. Sells 962 Shares of AT&T Inc. (NYSE:T)

Whitener Capital Management Inc. reduced its position in AT&T Inc. (NYSE:T) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,869 shares of the technology company’s stock after selling 962 shares during the period. Whitener Capital Management Inc.’s holdings in AT&T were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings 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 buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new position in AT&T during the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T during the 3rd quarter worth approximately $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 1.2 %

Shares of T opened at $22.30 on Friday. The stock has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $21.29.

AT&T (NYSE:T) last posted its 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 company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared 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 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Finally, Argus upgraded 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. One research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

About AT&T

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.