Zacks Investment Management Sells 283,464 Shares of AT&T Inc. (NYSE:T)

Zacks Investment Management cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,857,156 shares of the technology company's stock after selling 283,464 shares during the period. Zacks Investment Management's holdings in AT&T were worth $65,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of T. Marshall Investment Management LLC purchased a new stake in AT&T in the 4th quarter worth $28,000. YANKCOM Partnership bought a new stake in AT&T during the 4th quarter valued at approximately $30,000. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in AT&T in the 4th quarter worth approximately $34,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in AT&T during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.4 %

AT&T stock traded up $0.10 during midday trading on Friday, reaching $27.12. The stock had a trading volume of 24,758,386 shares, compared to its average volume of 36,664,188. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $194.67 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52-week low of $16.17 and a 52-week high of $29.03. The company has a fifty day moving average of $26.84 and a 200 day moving average of $24.15.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, April 10th. AT&T's dividend payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. Royal Bank of Canada lifted their price target on shares of AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Scotiabank lifted their target price on AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a report on Tuesday, April 8th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. Citigroup restated a "buy" rating on shares of AT&T in a report on Monday, April 7th. Finally, Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.24.

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.