Corrado Advisors LLC Sells 5,012 Shares of AT&T Inc. (NYSE:T)

Corrado Advisors LLC decreased its stake in AT&T Inc. (NYSE:T) by 3.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 131,333 shares of the technology company’s stock after selling 5,012 shares during the quarter. AT&T accounts for about 1.8% of Corrado Advisors LLC’s portfolio, making the stock its 20th largest position. Corrado Advisors LLC’s holdings in AT&T were worth $2,204,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sora Investors LLC purchased a new stake in shares of AT&T in the 3rd quarter valued at $11,265,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of AT&T by 2.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after purchasing an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares in the last quarter. Retireful LLC purchased a new stake in shares of AT&T in the 4th quarter valued at $1,163,000. Finally, Terril Brothers Inc. boosted its stake in shares of AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Citigroup increased their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

AT&T Trading Up 1.2 %

Shares of NYSE:T traded up $0.20 on Tuesday, hitting $16.51. The company had a trading volume of 47,772,969 shares, compared to its average volume of 38,895,176. The firm’s 50-day simple moving average is $16.99 and its two-hundred day simple moving average is $16.53. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.72%. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

AT&T Company 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.