AT&T Inc. (NYSE:T) Shares Sold by TrueWealth Advisors LLC

TrueWealth Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 75,834 shares of the technology company’s stock after selling 2,129 shares during the period. TrueWealth Advisors LLC’s holdings in AT&T were worth $2,145,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Consolidated Planning Corp grew its holdings in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares during the period. Keystone Financial Group boosted its position in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after purchasing an additional 143,744 shares in the last quarter. World Investment Advisors grew its stake in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $691,000. Finally, DigitalBridge Group Inc. raised its holdings in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after purchasing an additional 365,776 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.2%

T stock opened at $27.99 on Wednesday. The company has a 50 day moving average of $27.36 and a two-hundred day moving average of $25.37. The company has a market cap of $201.42 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last announced 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. AT&T’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date 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 68.10%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their target price 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. Barclays raised 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. JPMorgan Chase & Co. upped their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a research report on Thursday, April 24th. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T 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.