Prentiss Smith & Co. Inc. Sells 2,298 Shares of AT&T Inc. (NYSE:T)

Prentiss Smith & Co. Inc. lessened its stake in AT&T Inc. (NYSE:T) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,814 shares of the technology company’s stock after selling 2,298 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in AT&T were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Carmel Capital Partners LLC raised its holdings in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton bought a new position in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T in the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings 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 purchasing an additional 606 shares during the period. Finally, Morton Brown Family Wealth LLC increased its holdings in shares of AT&T by 588.2% in 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 during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.3 %

NYSE T traded down $0.22 during trading on Thursday, hitting $16.59. 46,667,665 shares of the company’s stock traded hands, compared to its average volume of 39,434,195. The stock has a fifty day moving average of $16.98 and a two-hundred day moving average of $16.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The firm has a market cap of $118.63 billion, a P/E ratio of 8.44, a PEG ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.69%. AT&T’s payout ratio is 56.63%.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

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.