Naviter Wealth LLC Sells 2,443 Shares of AT&T Inc. (NYSE:T)

Naviter Wealth LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,526 shares of the technology company’s stock after selling 2,443 shares during the period. Naviter Wealth LLC’s holdings in AT&T were worth $999,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its stake in shares of AT&T by 33.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after acquiring an additional 10,758 shares during the period. Avestar Capital LLC acquired a new position in AT&T during the 3rd quarter valued at about $237,000. PDS Planning Inc boosted its stake in shares of AT&T by 8.7% in the 3rd quarter. PDS Planning Inc now owns 26,173 shares of the technology company’s stock valued at $393,000 after purchasing an additional 2,104 shares during the last quarter. Garrison Asset Management LLC bought a new position in shares of AT&T in the 3rd quarter valued at about $158,000. Finally, All Season Financial Advisors Inc. grew its position in shares of AT&T by 2.4% during the 3rd quarter. All Season Financial Advisors Inc. now owns 41,459 shares of the technology company’s stock worth $623,000 after buying an additional 978 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $16.85 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market cap of $120.52 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 3.32 and a beta of 0.57. The business has a 50 day simple moving average of $16.97 and a 200 day simple moving average of $16.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.59%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on T. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded 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 report on Thursday, February 1st. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price 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.