AT&T Inc. (NYSE:T) Holdings Cut by Partners Wealth Management LLC

Partners Wealth Management LLC cut its position in AT&T Inc. (NYSE:T) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 81,488 shares of the technology company’s stock after selling 736 shares during the quarter. AT&T accounts for about 2.6% of Partners Wealth Management LLC’s holdings, making the stock its 5th largest holding. Partners Wealth Management LLC’s holdings in AT&T were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of T. Next Level Private LLC increased its holdings in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. increased its position in shares of AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after acquiring an additional 398 shares during the period. Firethorn Wealth Partners LLC increased its position in shares of AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after acquiring an additional 399 shares during the period. Finally, Charter Oak Capital Management LLC increased its position in shares of AT&T by 2.7% in the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock valued at $431,000 after acquiring an additional 408 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.5%

Shares of T stock opened at $28.13 on Friday. AT&T Inc. has a 12 month low of $17.49 and a 12 month high of $29.03. The stock has a market cap of $202.43 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. 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 company has a 50 day simple moving average of $27.41 and a two-hundred day simple moving average of $25.64.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Tigress Financial upped their target price 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. Barclays boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Wells Fargo & Company boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report 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’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

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.