AT&T Inc. (NYSE:T) Shares Sold by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC cut its position in AT&T Inc. (NYSE:T) by 69.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,602 shares of the technology company’s stock after selling 61,219 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in AT&T were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth $27,000. Core Alternative Capital boosted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in AT&T during the fourth quarter worth $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on T shares. UBS Group reissued a “buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Royal Bank Of Canada boosted their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price target on AT&T in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.12.

AT&T Trading Down 2.4%

NYSE:T opened at $26.97 on Monday. The stock has a 50-day simple moving average of $27.82 and a 200-day simple moving average of $26.35. The stock has a market cap of $194.07 billion, a P/E ratio of 16.55, a P/E/G ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings data 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). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T’s dividend payout ratio is currently 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.