TRUE Private Wealth Advisors Trims Stock Holdings in AT&T Inc. (NYSE:T)

TRUE Private Wealth Advisors cut its holdings in shares of AT&T Inc. (NYSE:T) by 11.3% during the fourth quarter, Holdings Channel reports. The firm owned 13,815 shares of the technology company’s stock after selling 1,752 shares during the quarter. TRUE Private Wealth Advisors’ holdings in AT&T were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Carmel Capital Partners LLC increased its stake in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton purchased a new stake in AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the third quarter worth about $30,000. FWL Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth about $31,000. Finally, Financial Freedom LLC acquired a new position in shares of AT&T during the fourth quarter worth about $34,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on T. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Price Performance

T stock opened at $16.33 on Friday. The company has a market capitalization of $116.81 billion, a P/E ratio of 8.33, a PEG ratio of 2.43 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.83. The business has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $16.48. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. AT&T’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.80%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.