Southland Equity Partners LLC Lowers Stock Position in AT&T Inc. (NYSE:T)

Southland Equity Partners LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,897 shares of the technology company’s stock after selling 1,388 shares during the period. Southland Equity Partners LLC’s holdings in AT&T were worth $874,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter worth $25,000. Minot DeBlois Advisors LLC purchased a new stake in AT&T during the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in AT&T during the 4th quarter worth $28,000. Finally, Tradewinds Capital Management LLC boosted its position in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on T shares. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company upped their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T 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 assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

AT&T Price Performance

NYSE T opened at $28.13 on Friday. AT&T Inc. has a 52 week low of $17.49 and a 52 week high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a 50-day moving average price of $27.41 and a two-hundred day moving average price of $25.63.

AT&T (NYSE:T) last posted 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 company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 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.