Northstar Asset Management LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Northstar Asset Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,121 shares of the technology company’s stock after selling 1,371 shares during the period. Northstar Asset Management LLC’s holdings in AT&T were worth $405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Carmel Capital Partners LLC raised its stake in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T in the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter worth about $30,000. FWL Investment Management LLC purchased a new stake in AT&T during the 4th quarter valued at about $31,000. Finally, Financial Freedom LLC purchased a new stake in AT&T during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.7 %

Shares of AT&T stock traded down $0.11 on Friday, reaching $16.31. The company’s stock had a trading volume of 41,785,200 shares, compared to its average volume of 34,946,256. The company has a market capitalization of $116.66 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 2.48 and a beta of 0.57. The firm’s fifty day simple moving average is $17.10 and its two-hundred day simple moving average is $16.45. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.99. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.