Revolve Wealth Partners LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Revolve Wealth Partners LLC cut its position in shares of AT&T Inc. (NYSE:T) by 8.8% during the 1st quarter, Holdings Channel reports. The firm owned 12,880 shares of the technology company’s stock after selling 1,236 shares during the quarter. Revolve Wealth Partners LLC’s holdings in AT&T were worth $364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Consolidated Planning Corp boosted its stake in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Keystone Financial Group boosted its stake in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after acquiring an additional 143,744 shares during the last quarter. World Investment Advisors boosted its stake in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after acquiring an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares during the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in AT&T in the fourth quarter valued at about $691,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on T. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

AT&T stock opened at $28.09 on Friday. The firm’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $25.47. 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 firm has a market capitalization of $202.12 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 1-year low of $17.42 and a 1-year high of $29.03.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.