Gilman Hill Asset Management LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

Gilman Hill Asset Management LLC lowered its stake in AT&T Inc. (NYSE:T) by 56.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,678 shares of the technology company’s stock after selling 24,032 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in AT&T were worth $425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in AT&T in the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position 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. Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the 3rd quarter valued at about $35,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in AT&T during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Morgan Stanley upgraded shares of 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 note on Monday, December 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Performance

Shares of T stock opened at $22.30 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The stock has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $21.35.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.