Peddock Capital Advisors LLC Sells 2,500 Shares of AT&T Inc. (NYSE:T)

Peddock Capital Advisors LLC cut its stake in AT&T Inc. (NYSE:T) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,714 shares of the technology company’s stock after selling 2,500 shares during the period. Peddock Capital Advisors LLC’s holdings in AT&T were worth $482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. JB Capital LLC lifted its stake in shares of AT&T by 2.4% during the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after buying an additional 614 shares in the last quarter. Connecticut Wealth Management LLC boosted its holdings in AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after buying an additional 620 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in AT&T by 0.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock worth $1,877,000 after buying an additional 630 shares during the period. Finally, Schubert & Co grew its stake in AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after buying an additional 631 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on T. Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Tigress Financial lifted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

NYSE T traded up $0.10 during trading hours on Tuesday, reaching $17.09. 28,082,469 shares of the stock traded hands, compared to its average volume of 38,812,934. The stock has a 50 day simple moving average of $16.98 and a two-hundred day simple moving average of $16.69. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company has a market cap of $122.50 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Company 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.