AT&T Inc. (NYSE:T) Shares Sold by LongView Wealth Management

LongView Wealth Management reduced its position in AT&T Inc. (NYSE:T) by 19.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 41,031 shares of the technology company’s stock after selling 9,955 shares during the quarter. LongView Wealth Management’s holdings in AT&T were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in T. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T during the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in 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 acquiring an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in AT&T during the fourth quarter worth $39,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 2.0 %

Shares of T traded up $0.38 during mid-day trading on Friday, reaching $19.13. The stock had a trading volume of 52,807,062 shares, compared to its average volume of 36,886,191. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.13. The business’s fifty day moving average is $17.57 and its 200 day moving average is $17.17. The firm has a market cap of $137.17 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on T shares. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank upped their price objective 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, April 25th. Wolfe Research upgraded shares of 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. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.