Woodward Diversified Capital LLC Sells 922 Shares of AT&T Inc. (NYSE:T)

Woodward Diversified Capital LLC reduced its position in AT&T Inc. (NYSE:T) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,361 shares of the technology company’s stock after selling 922 shares during the period. AT&T comprises approximately 0.9% of Woodward Diversified Capital LLC’s holdings, making the stock its 24th largest position. Woodward Diversified Capital LLC’s holdings in AT&T were worth $1,283,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in T. Brighton Jones LLC grew its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in AT&T by 39.7% in the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company’s stock worth $655,000 after purchasing an additional 8,179 shares during the last quarter. Mystic Asset Management Inc. bought a new stake in AT&T in the fourth quarter worth about $333,000. Retirement Planning Co of New England Inc. lifted its stake in AT&T by 8.8% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 12,018 shares of the technology company’s stock worth $274,000 after purchasing an additional 967 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in AT&T by 1.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 462,211 shares of the technology company’s stock worth $10,487,000 after purchasing an additional 8,428 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Finally, Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

AT&T Price Performance

NYSE T opened at $26.95 on Thursday. The firm’s fifty day simple moving average is $27.77 and its two-hundred day simple moving average is $26.38. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The firm has a market capitalization of $193.89 billion, a P/E ratio of 16.53, a P/E/G ratio of 3.37 and a beta of 0.42.

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

AT&T Announces Dividend

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