Foster Group Inc. Has $342,000 Stake in AT&T Inc. (NYSE:T)

Foster Group Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 7.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,039 shares of the technology company’s stock after selling 1,268 shares during the period. Foster Group Inc.’s holdings in AT&T were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of AT&T during the 4th quarter valued at about $34,000. Reston Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter valued at about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the 3rd quarter valued at approximately $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.2 %

NYSE:T opened at $24.43 on Wednesday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.58. The firm has a market capitalization of $175.26 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. 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 stock’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $21.51.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.54%. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $26.11.

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.