Graypoint LLC Sells 1,028 Shares of AT&T Inc. (NYSE:T)

Graypoint LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.3% during the first quarter, HoldingsChannel.com reports. The fund owned 78,807 shares of the technology company’s stock after selling 1,028 shares during the quarter. Graypoint LLC’s holdings in AT&T were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Core Alternative Capital boosted its holdings 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 in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the fourth quarter valued at $25,000. Finally, Putney Financial Group LLC acquired a new stake in shares of AT&T in the 4th quarter worth about $27,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $27.01 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average is $27.76 and its 200 day moving average is $26.41. The stock has a market cap of $194.32 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 3.37 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 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 the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Ratings Changes

A number of research firms have weighed in on T. Scotiabank lifted their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. TD Securities increased their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

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.