Pekin Hardy Strauss Inc. Cuts Holdings in AT&T Inc. (NYSE:T)

Pekin Hardy Strauss Inc. cut its position in AT&T Inc. (NYSE:T - Free Report) by 64.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,367 shares of the technology company's stock after selling 49,383 shares during the period. Pekin Hardy Strauss Inc.'s holdings in AT&T were worth $459,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Carmel Capital Partners LLC boosted its stake in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company's stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new stake in shares of AT&T in the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock worth $39,000 after buying an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC boosted its position in AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company's stock worth $44,000 after purchasing an additional 2,241 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Oppenheimer upgraded AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. upgraded AT&T from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays raised AT&T from an "equal weight" rating to an "overweight" rating and set a $20.00 target price for the company in a report on Monday. Finally, Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.81.

AT&T Trading Up 0.2 %

T stock traded up $0.03 during midday trading on Wednesday, hitting $16.92. 38,979,183 shares of the company's stock were exchanged, compared to its average volume of 39,373,555. The business has a 50-day simple moving average of $16.96 and a two-hundred day simple moving average of $16.62. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $121.03 billion, a PE ratio of 9.10, a P/E/G ratio of 3.38 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the business posted $0.60 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.56%. AT&T's dividend payout ratio (DPR) is presently 59.68%.

AT&T 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.