Regatta Capital Group LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Regatta Capital Group LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,873 shares of the technology company’s stock after selling 26,131 shares during the quarter. Regatta Capital Group LLC’s holdings in AT&T were worth $3,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter worth approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth $27,000. Marshall Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth about $28,000. Finally, Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during 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 during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.2%

T opened at $28.09 on Monday. The company has a 50-day moving average price of $27.32 and a 200 day moving average price of $25.49. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03. The company has a market cap 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. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Citigroup restated a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Tigress Financial increased their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Scotiabank restated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

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.