Cyndeo Wealth Partners LLC Trims Position in AT&T Inc. (NYSE:T)

Cyndeo Wealth Partners LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 26.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 30,175 shares of the technology company’s stock after selling 10,711 shares during the period. Cyndeo Wealth Partners LLC’s holdings in AT&T were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Next Level Private LLC increased its stake in shares of AT&T by 0.3% during 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 during the period. Carolinas Wealth Consulting LLC increased its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after acquiring an additional 384 shares during the period. Kozak & Associates Inc. increased its stake in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after acquiring an additional 398 shares during the period. Firethorn Wealth Partners LLC increased its stake in shares of AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after acquiring an additional 399 shares during the period. Finally, Charter Oak Capital Management LLC increased its stake in shares of AT&T by 2.7% during the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after acquiring an additional 408 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Royal Bank of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Stock Down 0.9%

T stock opened at $27.95 on Tuesday. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03. The company’s 50 day simple moving average is $27.44 and its 200-day simple moving average is $25.69. The firm has a market capitalization of $201.08 billion, a PE ratio of 18.76, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the business posted $0.55 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities 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 given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.97%. AT&T’s dividend payout ratio (DPR) is currently 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.