CapWealth Advisors LLC Sells 1,641 Shares of AT&T Inc. (NYSE:T)

CapWealth Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 17,097 shares of the technology company’s stock after selling 1,641 shares during the period. CapWealth Advisors LLC’s holdings in AT&T were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Pineridge Advisors LLC bought a new stake in AT&T during the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the fourth quarter valued at $25,000. First Pacific Financial raised its holdings in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in AT&T in the third quarter worth about $30,000. Finally, HighMark Wealth Management LLC grew its holdings in AT&T by 58.2% during the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after acquiring an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock remained flat at $18.81 during trading on Tuesday. 27,803,651 shares of the company were exchanged, compared to its average volume of 36,500,313. The firm has a market cap of $134.87 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 4.26 and a beta of 0.58. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32. 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 business has a fifty day simple moving average of $17.87 and a 200-day simple moving average of $17.29.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.90%. AT&T’s payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.73.

About AT&T

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.