Taylor & Morgan Wealth Management LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Taylor & Morgan Wealth Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,690 shares of the technology company’s stock after selling 1,418 shares during the period. AT&T comprises approximately 0.8% of Taylor & Morgan Wealth Management LLC’s investment portfolio, making the stock its 22nd largest holding. Taylor & Morgan Wealth Management LLC’s holdings in AT&T were worth $1,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Carolinas Wealth Consulting LLC lifted its position in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after buying an additional 384 shares in the last quarter. Buska Wealth Management LLC lifted its holdings in AT&T by 3.2% in the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock valued at $305,000 after purchasing an additional 412 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in AT&T by 1.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company’s stock valued at $596,000 after purchasing an additional 421 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Finally, BNP Paribas lifted its holdings in AT&T by 1.0% in the 4th quarter. BNP Paribas now owns 41,716 shares of the technology company’s stock valued at $942,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.3%

Shares of NYSE:T opened at $27.73 on Friday. The business has a 50-day moving average price of $27.36 and a 200 day moving average price of $25.29. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $199.53 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Evercore ISI raised their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.