Appleton Partners Inc. MA Sells 3,504 Shares of AT&T Inc. (NYSE:T)

Appleton Partners Inc. MA cut its holdings in shares of AT&T Inc. (NYSE:T) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,170 shares of the technology company’s stock after selling 3,504 shares during the quarter. Appleton Partners Inc. MA’s holdings in AT&T were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighPoint Advisor Group LLC acquired a new position in AT&T in the fourth quarter valued at about $5,748,000. Livelsberger Financial Advisory bought a new position in AT&T in the 4th quarter valued at about $61,000. Leo Wealth LLC bought a new position in AT&T in the 4th quarter valued at about $2,890,000. Muirfield Wealth Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at approximately $199,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $209,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, April 29th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Scotiabank boosted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $21.32.

AT&T Stock Up 1.5 %

Shares of NYSE T traded up $0.27 during trading on Tuesday, hitting $17.94. 12,332,465 shares of the company traded hands, compared to its average volume of 36,410,266. The firm has a market capitalization of $128.63 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 3.47 and a beta of 0.60. The business’s fifty day moving average is $17.19 and its 200 day moving average is $17.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.45.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates 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 was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.19%. AT&T’s payout ratio is 59.68%.

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.