AT&T Inc. (NYSE:T) Position Trimmed by Southland Equity Partners LLC

Southland Equity Partners LLC trimmed its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,897 shares of the technology company’s stock after selling 1,388 shares during the period. Southland Equity Partners LLC’s holdings in AT&T were worth $874,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Minot DeBlois Advisors LLC purchased a new position in AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in AT&T during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in AT&T during the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC grew its position 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 worth $30,000 after purchasing an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.5%

AT&T stock opened at $28.13 on Friday. The company has a market capitalization of $202.43 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. The firm’s fifty day simple moving average is $27.41 and its 200-day simple moving average is $25.63. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $17.49 and a 1-year high of $29.03.

AT&T (NYSE:TGet Free Report) last released its quarterly 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 business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Royal Bank of Canada lifted their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.71.

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About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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