Buckley Wealth Management LLC Sells 4,000 Shares of AT&T Inc. (NYSE:T)

Buckley Wealth Management LLC lowered its stake in AT&T Inc. (NYSE:T) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 133,700 shares of the technology company’s stock after selling 4,000 shares during the quarter. AT&T accounts for 0.8% of Buckley Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Buckley Wealth Management LLC’s holdings in AT&T were worth $2,353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of AT&T by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after acquiring an additional 2,155,232 shares in the last quarter. Norges Bank bought a new position in shares of AT&T during the fourth quarter valued at approximately $1,118,288,000. Ameriprise Financial Inc. raised its holdings in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after acquiring an additional 798,024 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AT&T by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after purchasing an additional 1,137,792 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Oppenheimer reissued an “outperform” rating and issued a $21.00 target price on shares of AT&T in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, Scotiabank increased 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. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

AT&T Price Performance

T traded up $0.25 on Friday, hitting $19.00. 22,592,645 shares of the company’s stock traded hands, compared to its average volume of 36,654,266. The company’s 50 day simple moving average is $17.47 and its 200-day simple moving average is $17.14. The firm has a market cap of $136.23 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 4.26 and a beta of 0.60. AT&T Inc. has a one year low of $13.43 and a one year high of $19.11. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

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 issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.84%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company 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.