RWA Wealth Partners LLC Sells 28,202 Shares of AT&T Inc. $T

RWA Wealth Partners LLC cut its holdings in AT&T Inc. (NYSE:T) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,083 shares of the technology company’s stock after selling 28,202 shares during the quarter. RWA Wealth Partners LLC’s holdings in AT&T were worth $3,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter valued at $25,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in AT&T during the 1st quarter valued at $29,000. Core Alternative Capital raised its stake in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter valued at $25,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.2%

T opened at $28.92 on Tuesday. The firm has a 50-day simple moving average of $27.93 and a two-hundred day simple moving average of $27.27. AT&T Inc. has a 52 week low of $19.34 and a 52 week high of $29.19. The company has a market capitalization of $206.79 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.57 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James Financial restated a “strong-buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. UBS Group restated a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Williams Trading set a $30.00 price objective on AT&T in a research note on Thursday, April 24th. Barclays upped their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned 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 price target of $30.21.

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.