Horizon Wealth Management LLC Has $681,000 Stock Holdings in AT&T Inc. (NYSE:T)

Horizon Wealth Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 23.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 38,703 shares of the technology company’s stock after selling 11,858 shares during the period. Horizon Wealth Management LLC’s holdings in AT&T were worth $681,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Diversified Trust Co raised its position in AT&T by 12.5% in the 1st quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock valued at $2,592,000 after buying an additional 16,355 shares during the last quarter. Aviance Capital Partners LLC raised its holdings in shares of AT&T by 7.4% in the first quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock valued at $406,000 after purchasing an additional 1,595 shares during the last quarter. Roberts Wealth Advisors LLC lifted its position in shares of AT&T by 6.1% in the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock worth $1,343,000 after purchasing an additional 4,753 shares in the last quarter. Breakwater Capital Group boosted its holdings in shares of AT&T by 8.7% during the first quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock worth $588,000 after acquiring an additional 2,662 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in AT&T by 18.0% in the first quarter. Red Door Wealth Management LLC now owns 34,314 shares of the technology company’s stock valued at $604,000 after buying an additional 5,233 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T traded down $0.22 during mid-day trading on Monday, hitting $18.89. 18,092,410 shares of the stock were exchanged, compared to its average volume of 36,753,309. The company has a market cap of $135.44 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32. The firm has a 50-day moving average of $17.57 and a two-hundred day moving average of $17.18. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. 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 report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday. They issued a “buy” rating and a $22.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a research note on Tuesday, June 25th. UBS Group restated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

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.