Strategic Advisors LLC Trims Position in AT&T Inc. (NYSE:T)

Strategic Advisors LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 17.0% in the 1st quarter, Holdings Channel reports. The firm owned 61,839 shares of the technology company’s stock after selling 12,687 shares during the period. Strategic Advisors LLC’s holdings in AT&T were worth $1,749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Next Level Private LLC grew its holdings in AT&T by 0.3% during the 1st 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 in the last quarter. Carolinas Wealth Consulting LLC boosted 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 valued at $550,000 after purchasing an additional 384 shares in the last quarter. Kozak & Associates Inc. increased its holdings in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after buying an additional 398 shares during the period. Firethorn Wealth Partners LLC raised its stake in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after buying an additional 399 shares in the last quarter. Finally, Charter Oak Capital Management LLC lifted its holdings in 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 buying an additional 408 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Tigress Financial lifted their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

Shares of NYSE T opened at $27.95 on Tuesday. The stock has a market cap of $201.08 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03. The company has a 50 day simple moving average of $27.44 and a two-hundred day simple moving average of $25.69. 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 announced its quarterly 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 net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared 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 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 is currently 68.10%.

AT&T 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.