Partners Wealth Management LLC Sells 736 Shares of AT&T Inc. (NYSE:T)

Partners Wealth Management LLC decreased its position in AT&T Inc. (NYSE:T) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,488 shares of the technology company’s stock after selling 736 shares during the period. AT&T makes up 2.6% of Partners Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Partners Wealth Management LLC’s holdings in AT&T were worth $2,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Brighton Jones LLC raised its holdings in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Van ECK Associates Corp raised its holdings in shares of AT&T by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 404,343 shares of the technology company’s stock valued at $9,207,000 after purchasing an additional 7,385 shares during the period. Root Financial Partners LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $225,000. First Merchants Corp raised its holdings in shares of AT&T by 14.8% during the fourth quarter. First Merchants Corp now owns 16,407 shares of the technology company’s stock valued at $374,000 after purchasing an additional 2,110 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of AT&T by 18.8% during the fourth quarter. Blue Trust Inc. now owns 99,506 shares of the technology company’s stock valued at $2,266,000 after purchasing an additional 15,770 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.5%

AT&T stock opened at $28.13 on Friday. AT&T Inc. has a twelve month low of $17.49 and a twelve month high of $29.03. The firm has a 50 day moving average price of $27.41 and a 200-day moving average price of $25.64. The company has a market capitalization of $202.43 billion, a P/E ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. 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 released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is currently 68.10%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Williams Trading set a $30.00 target price on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company boosted their target price 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. Royal Bank of Canada boosted their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

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.