Alpha Omega Wealth Management LLC Sells 141,436 Shares of AT&T Inc. (NYSE:T)

Alpha Omega Wealth Management LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 31.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,954 shares of the technology company’s stock after selling 141,436 shares during the quarter. AT&T comprises 1.6% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $8,568,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Consolidated Planning Corp lifted its position in AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares during the period. Keystone Financial Group grew its holdings in AT&T by 196.3% during the fourth 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 during the period. World Investment Advisors increased its stake in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after purchasing an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in AT&T by 14.6% in the fourth 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 during the period. Finally, Fortress Financial Solutions LLC bought a new position in shares of AT&T during the fourth quarter worth $691,000. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Wells Fargo & Company increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Oppenheimer upped their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Finally, Williams Trading set a $30.00 price target on AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

Shares of NYSE T opened at $28.42 on Wednesday. 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 stock has a 50 day moving average price of $27.31 and a 200 day moving average price of $25.54. The stock has a market capitalization of $204.46 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03.

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 analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Analysts predict 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. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

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.