WealthPLAN Partners LLC Sells 4,703 Shares of AT&T Inc. (NYSE:T)

WealthPLAN Partners LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,072 shares of the technology company’s stock after selling 4,703 shares during the quarter. WealthPLAN Partners LLC’s holdings in AT&T were worth $298,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Adell Harriman & Carpenter Inc. lifted its holdings in shares of AT&T by 4.6% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 149,114 shares of the technology company’s stock valued at $3,395,000 after purchasing an additional 6,491 shares during the last quarter. Blue Trust Inc. raised its holdings in AT&T by 18.8% in the 4th quarter. Blue Trust Inc. now owns 99,506 shares of the technology company’s stock worth $2,266,000 after acquiring an additional 15,770 shares during the last quarter. Kanawha Capital Management LLC raised its holdings in AT&T by 6.2% in the 4th quarter. Kanawha Capital Management LLC now owns 108,222 shares of the technology company’s stock worth $2,464,000 after acquiring an additional 6,331 shares during the last quarter. Campbell Wealth Management purchased a new position in AT&T in the 4th quarter worth approximately $290,000. Finally, Asset Planning Inc purchased a new position in AT&T in the 4th quarter worth approximately $232,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE T opened at $25.88 on Friday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $25.93. The firm’s 50 day moving average price is $23.23 and its 200-day moving average price is $22.04. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $185.66 billion, a PE ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.29%. AT&T’s dividend payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Scotiabank boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 28th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. The Goldman Sachs Group lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.33.

About AT&T

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.