AT&T Inc. (NYSE:T) Stake Trimmed by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC lowered its stake in AT&T Inc. (NYSE:T) by 4.9% during the first quarter, HoldingsChannel reports. The firm owned 15,661 shares of the technology company’s stock after selling 808 shares during the period. Alliance Wealth Advisors LLC’s holdings in AT&T were worth $443,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new stake in AT&T in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in AT&T in the 4th quarter worth approximately $28,000. Finally, YANKCOM Partnership acquired a new stake in AT&T in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on T. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. Finally, Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Up 1.2%

Shares of T opened at $28.09 on Friday. 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 Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The firm has a market capitalization of $202.12 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The stock’s fifty day simple moving average is $27.32 and its 200-day simple moving average is $25.45.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the company posted $0.55 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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