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

Logan Capital Management Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Marshall Investment Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares during the last quarter. YANKCOM Partnership acquired a new stake in AT&T during the 4th quarter valued at $30,000. Endeavor Private Wealth Inc. acquired a new stake in AT&T during the 4th quarter valued at $34,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in AT&T during the 4th quarter valued at $35,000. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

AT&T stock traded up $0.37 during midday trading on Friday, reaching $27.70. The company's stock had a trading volume of 14,994,102 shares, compared to its average volume of 36,674,975. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $27.15 and a 200-day moving average price of $24.86. The stock has a market cap of $199.28 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio is presently 68.10%.

Analyst Ratings Changes

T has been the subject of several research reports. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Evercore ISI lifted their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. 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 report on Thursday, April 24th. Finally, Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Company 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.