AT&T Inc. (NYSE:T) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,021 shares of the technology company’s stock after selling 45,096 shares during the quarter. Advisory Services Network LLC’s holdings in AT&T were worth $5,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Frank Rimerman Advisors LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. First Pacific Financial boosted its holdings in AT&T by 166.7% during the 1st 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 during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of AT&T in the 4th quarter valued at about $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.3 %

AT&T stock traded down $0.06 during trading on Friday, hitting $18.80. The company’s stock had a trading volume of 12,909,461 shares, compared to its average volume of 36,203,258. The stock has a market capitalization of $134.80 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 3.54 and a beta of 0.58. The stock’s fifty day moving average is $17.94 and its 200 day moving average is $17.31. AT&T Inc. has a 1-year low of $13.43 and a 1-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.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm 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 business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.90%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on T shares. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Scotiabank boosted their target price on AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $21.85.

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.