Dover Advisors LLC Sells 724 Shares of AT&T Inc. (NYSE:T)

Dover Advisors LLC lowered its stake in AT&T Inc. (NYSE:T) by 5.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,920 shares of the technology company’s stock after selling 724 shares during the period. Dover Advisors LLC’s holdings in AT&T were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton bought a new stake in AT&T in the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. bought a new stake in AT&T in the 3rd quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% in the 4th 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its holdings in AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

Shares of T traded up $0.17 during mid-day trading on Friday, reaching $16.75. 37,852,681 shares of the company’s stock traded hands, compared to its average volume of 39,190,348. The stock has a market cap of $119.81 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.53 and a beta of 0.57. The stock’s 50-day moving average is $16.96 and its two-hundred day moving average is $16.58. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.67.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (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 company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.63%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Tigress Financial boosted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

About AT&T

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.