San Luis Wealth Advisors LLC Cuts Position in AT&T Inc. (NYSE:T)

San Luis Wealth Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 74.3% during the first quarter, Holdings Channel reports. The institutional investor owned 12,711 shares of the technology company’s stock after selling 36,785 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in AT&T were worth $359,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new position in AT&T in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of AT&T during the fourth quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC grew its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.9%

AT&T stock opened at $27.95 on Tuesday. The stock has a market cap 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 stock has a 50-day moving average price of $27.44 and a 200 day moving average price of $25.69. AT&T Inc. has a 52 week low of $17.49 and a 52 week high of $29.03. 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 (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company’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. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is 68.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Tigress Financial increased their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Monday, April 7th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $31.00 target price (up previously from $30.00) 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 given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.