BIP Wealth LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

BIP Wealth LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,231 shares of the technology company’s stock after selling 1,181 shares during the quarter. BIP Wealth LLC’s holdings in AT&T were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. JB Capital LLC increased its holdings in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after acquiring an additional 614 shares in the last quarter. Schubert & Co increased its holdings in shares of AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after acquiring an additional 631 shares in the last quarter. Roof Eidam Maycock Peralta LLC grew its holdings in shares of AT&T by 6.3% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock worth $169,000 after buying an additional 666 shares in the last quarter. Finally, MBM Wealth Consultants LLC grew its holdings in shares of AT&T by 4.5% during the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after buying an additional 678 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

Shares of T traded down $0.23 during midday trading on Thursday, hitting $16.58. The company’s stock had a trading volume of 26,742,428 shares, compared to its average volume of 39,162,723. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The company’s fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $16.54. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $118.59 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the business posted $0.60 EPS. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

AT&T 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.