AT&T Inc. (NYSE:T) Shares Sold by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 74.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,711 shares of the technology company’s stock after selling 36,785 shares during the period. San Luis Wealth Advisors LLC’s holdings in AT&T were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Huntleigh Advisors Inc. acquired a new position in shares of AT&T in the 1st quarter valued at $5,622,000. Bell Bank increased its holdings in AT&T by 1.5% in the 1st quarter. Bell Bank now owns 384,065 shares of the technology company’s stock worth $10,861,000 after acquiring an additional 5,643 shares in the last quarter. Rakuten Securities Inc. increased its holdings in AT&T by 11.6% in the 1st quarter. Rakuten Securities Inc. now owns 17,399 shares of the technology company’s stock worth $492,000 after acquiring an additional 1,802 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in AT&T by 15.2% in the 1st quarter. Insigneo Advisory Services LLC now owns 79,857 shares of the technology company’s stock worth $2,258,000 after acquiring an additional 10,556 shares in the last quarter. Finally, NBT Bank N A NY increased its holdings in AT&T by 7.5% in the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock worth $3,660,000 after acquiring an additional 8,989 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.9%

Shares of T opened at $27.95 on Tuesday. The stock has a market capitalization of $201.08 billion, a PE ratio of 18.76, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 1 year low of $17.49 and a 1 year high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company’s 50-day simple moving average is $27.44 and its 200-day simple moving average is $25.69.

AT&T (NYSE:T) last issued its quarterly earnings results 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 business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. 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 Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.97%. AT&T’s dividend payout ratio is presently 68.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on T shares. Royal Bank of Canada boosted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report 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 stock an “overweight” rating in a report on Thursday, April 24th. Finally, TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $28.71.

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.