First Foundation Advisors Cuts Stake in AT&T Inc. (NYSE:T)

First Foundation Advisors decreased its holdings in AT&T Inc. (NYSE:T) by 7.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,860 shares of the technology company’s stock after selling 1,487 shares during the period. First Foundation Advisors’ holdings in AT&T were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock traded down $0.03 during mid-day trading on Friday, reaching $19.12. The company had a trading volume of 29,910,308 shares, compared to its average volume of 32,990,166. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $137.09 billion, a P/E ratio of 10.28, a P/E/G ratio of 3.61 and a beta of 0.58. AT&T Inc. has a one year low of $13.89 and a one year high of $19.33. The stock’s 50-day simple moving average is $18.17 and its two-hundred day simple moving average is $17.41.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Dividend Announcement

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 paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of AT&T in a research report on Wednesday, July 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a report on Tuesday, June 25th. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.85.

About AT&T

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.