Pallas Capital Advisors LLC Sells 5,643 Shares of AT&T Inc. (NYSE:T)

Pallas Capital Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,351 shares of the technology company’s stock after selling 5,643 shares during the period. Pallas Capital Advisors LLC’s holdings in AT&T were worth $1,565,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research note on Thursday, February 13th. TD Securities raised their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. One investment 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 company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Price Performance

Shares of T stock opened at $27.88 on Tuesday. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The firm has a market capitalization of $200.58 billion, a price-to-earnings ratio of 18.71, 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. The firm has a fifty day moving average of $27.32 and a 200-day moving average of $25.52.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the firm earned $0.55 EPS. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is 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.