SignalPoint Asset Management LLC lowered its position in AT&T Inc. (NYSE:T – Get Rating) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,352 shares of the technology company’s stock after selling 999 shares during the period. SignalPoint Asset Management LLC’s holdings in AT&T were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. SWS Partners acquired a new stake in AT&T in the first quarter valued at about $25,000. KRS Capital Management LLC purchased a new position in AT&T in the fourth quarter valued at about $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in AT&T in the first quarter valued at about $27,000. Missouri Trust & Investment Co purchased a new position in AT&T in the fourth quarter valued at about $34,000. Finally, SBK Financial Inc. purchased a new position in AT&T in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 53.47% of the company’s stock.
AT&T Trading Up 0.4 %
T stock traded up $0.08 during midday trading on Friday, hitting $18.35. The stock had a trading volume of 32,726,396 shares, compared to its average volume of 38,202,544. The firm has a market cap of $131.37 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 1.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.72 and a quick ratio of 0.65. AT&T Inc. has a 12-month low of $16.62 and a 12-month high of $21.53. The company’s 50-day moving average price is $20.11 and its 200 day moving average price is $21.67.
AT&T Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.05%. AT&T’s dividend payout ratio (DPR) is presently 40.81%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on T. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, April 25th. They issued a “buy” rating and a $23.00 target price for the company. Truist Financial dropped their target price on shares of AT&T to $21.00 in a report on Friday, July 22nd. Cowen dropped their target price on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Wolfe Research dropped their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Finally, Raymond James reissued an “outperform” rating and set a $26.00 price objective on shares of AT&T in a research note on Thursday, July 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.89.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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