SRS Capital Advisors Inc. Trims Stake in AT&T Inc. (NYSE:T)

SRS Capital Advisors Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,228 shares of the technology company’s stock after selling 2,699 shares during the period. SRS Capital Advisors Inc.’s holdings in AT&T were worth $88,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Carmel Capital Partners LLC lifted its stake in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new position in shares of AT&T in the third quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T in the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position 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 worth $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. raised its stake in AT&T by 3,202.4% during the 3rd 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 period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

NYSE:T opened at $16.85 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market capitalization of $120.52 billion, a P/E ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57. The company’s 50-day simple moving average is $16.97 and its 200-day simple moving average is $16.64. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

Several equities analysts have weighed in on T shares. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Citigroup increased their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Finally, Tigress Financial upped their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.81.

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.