AT&T Inc. (NYSE:T) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC lowered its holdings in AT&T Inc. (NYSE:T) by 17.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 47,884 shares of the technology company’s stock after selling 10,132 shares during the quarter. Fortitude Family Office LLC’s holdings in AT&T were worth $1,354,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in T. Minot DeBlois Advisors LLC purchased a new position in AT&T during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC bought a new stake in AT&T in the fourth quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC grew its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Tigress Financial boosted their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating 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. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Price Performance

NYSE:T opened at $28.32 on Thursday. The stock has a market cap of $203.74 billion, a P/E ratio of 19.00, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The company has a fifty day moving average price of $27.35 and a 200 day moving average price of $25.56. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.92%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

AT&T 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.