Logan Capital Management Inc. Sells 17,544 Shares of AT&T Inc. (NYSE:T)

Logan Capital Management Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 827,325 shares of the technology company’s stock after selling 17,544 shares during the quarter. Logan Capital Management Inc.’s holdings in AT&T were worth $18,838,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Consolidated Planning Corp raised its stake in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group boosted its holdings in shares of AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after purchasing an additional 143,744 shares in the last quarter. World Investment Advisors raised its holdings in shares of AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after buying an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC bought a new stake in shares of AT&T during the 4th quarter worth $691,000. Finally, DigitalBridge Group Inc. grew its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Tigress Financial increased their target price on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a report on Thursday, February 13th. Wells Fargo & Company lifted their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Up 1.5%

Shares of T opened at $27.88 on Monday. The business’s 50 day moving average is $27.15 and its 200 day moving average is $24.77. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The company has a market capitalization of $200.61 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.