AT&T Inc. (NYSE:T) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC reduced its stake in AT&T Inc. (NYSE:T) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,843 shares of the technology company’s stock after selling 1,103 shares during the quarter. SlateStone Wealth LLC’s holdings in AT&T were worth $534,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC increased 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 valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of 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 valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. grew its position in shares of 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 valued at $41,000 after buying an additional 2,626 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on T shares. Citigroup increased their target price 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. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, Tigress Financial increased their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

AT&T Trading Up 1.0 %

Shares of T traded up $0.17 during mid-day trading on Tuesday, hitting $16.48. The company had a trading volume of 27,557,999 shares, compared to its average volume of 38,613,418. The business’s 50-day simple moving average is $16.99 and its 200-day simple moving average is $16.53. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The stock has a market cap of $117.88 billion, a PE ratio of 8.39, a P/E/G ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.74%. AT&T’s dividend payout ratio (DPR) is presently 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.