AT&T Inc. (NYSE:T) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,168 shares of the technology company’s stock after selling 3,503 shares during the quarter. Principle Wealth Partners LLC’s holdings in AT&T were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Carmel Capital Partners LLC raised its holdings in shares of 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 bought a new position in AT&T in the third quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the third quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% during 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. Finally, Financial Gravity Asset Management Inc. grew its holdings in shares of AT&T by 3,202.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

NYSE T opened at $16.75 on Monday. The company has a market capitalization of $119.81 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm’s fifty day simple moving average is $16.96 and its 200-day simple moving average is $16.58.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on T shares. Barclays lifted their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Scotiabank boosted their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, Tigress Financial increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

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.