Mountain Capital Investment Advisors Inc Cuts Stake in AT&T Inc. (NYSE:T)


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Mountain Capital Investment Advisors Inc reduced its stake in shares of AT&T Inc. (NYSE:T) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,476 shares of the technology company’s stock after selling 7,889 shares during the quarter. Mountain Capital Investment Advisors Inc’s holdings in AT&T were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNC Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $27,000. ELM Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $59,000. Cerebellum GP LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $62,000. Provident Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $70,000. Finally, Planned Solutions Inc. bought a new position in shares of AT&T during the 3rd quarter valued at approximately $81,000. 52.29% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on T shares. Barclays started coverage on AT&T in a research report on Friday, October 2nd. They set an “overweight” rating for the company. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, January 4th. Wolfe Research began coverage on AT&T in a research report on Monday, October 19th. They set a “peer perform” rating and a $31.00 target price for the company. Wells Fargo & Company restated an “underweight” rating and issued a $25.00 price target on shares of AT&T in a research report on Monday, November 16th. Finally, Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating and set a $33.00 price target for the company in a research report on Thursday, December 10th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. AT&T currently has an average rating of “Hold” and a consensus target price of $32.40.

NYSE:T opened at $28.61 on Thursday. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.14. The company has a market cap of $203.87 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The stock has a fifty day simple moving average of $29.36 and a 200-day simple moving average of $29.09. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). The firm had revenue of $42.43 billion for the quarter, compared to analysts’ expectations of $41.66 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 EPS. As a group, equities research analysts predict that AT&T Inc. will post 3.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.27%. AT&T’s dividend payout ratio is currently 58.26%.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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