Indie Asset Partners LLC Sells 1,808 Shares of AT&T Inc. (NYSE:T)

Indie Asset Partners LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 18.4% during the first quarter, HoldingsChannel reports. The firm owned 7,998 shares of the technology company’s stock after selling 1,808 shares during the quarter. Indie Asset Partners LLC’s holdings in AT&T were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Minot DeBlois Advisors LLC bought a new stake in AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in AT&T in the 4th quarter valued at $27,000. Hager Investment Management Services LLC lifted its position in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Finally, Core Alternative Capital lifted its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on T shares. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. One equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.66.

AT&T Price Performance

Shares of NYSE:T opened at $27.61 on Tuesday. The company has a market cap of $198.67 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.49 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $27.80 and a 200 day simple moving average of $26.72. AT&T Inc. has a one year low of $18.64 and a one year high of $29.19.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is presently 63.07%.

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.