AT&T Inc. (NYSE:T) Position Cut by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 9.5% during the first quarter, Holdings Channel.com reports. The firm owned 23,848 shares of the technology company’s stock after selling 2,517 shares during the period. AT&T accounts for about 0.5% of Bruce G. Allen Investments LLC’s portfolio, making the stock its 20th biggest position. Bruce G. Allen Investments LLC’s holdings in AT&T were worth $674,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Next Level Private LLC raised its position in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after acquiring an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC boosted 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 purchasing an additional 384 shares in the last quarter. Firethorn Wealth Partners LLC grew its stake in shares of AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after purchasing an additional 399 shares during the last quarter. Charter Oak Capital Management LLC raised its holdings in shares of AT&T by 2.7% in the 1st quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after purchasing an additional 408 shares in the last quarter. Finally, Buska Wealth Management LLC lifted its stake in AT&T by 3.2% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on T shares. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Stock Up 1.2%

Shares of NYSE:T opened at $28.09 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $202.12 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a 50 day moving average of $27.32 and a 200-day moving average of $25.49. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

About AT&T

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.