Sound View Wealth Advisors Group LLC reduced its stake in AT&T Inc. (NYSE:T) by 3.9% during the 1st quarter, HoldingsChannel reports. The firm owned 46,756 shares of the technology company’s stock after selling 1,914 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in AT&T were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its holdings in shares of AT&T by 14.1% in the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 70,770 shares of the technology company’s stock valued at $2,178,000 after buying an additional 8,770 shares during the period. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of AT&T by 2.4% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 18,662 shares of the technology company’s stock valued at $564,000 after buying an additional 446 shares during the period. JJJ Advisors Inc. raised its holdings in AT&T by 37.4% during the first quarter. JJJ Advisors Inc. now owns 8,581 shares of the technology company’s stock worth $260,000 after purchasing an additional 2,334 shares during the last quarter. BCS Wealth Management raised its holdings in AT&T by 45.5% during the first quarter. BCS Wealth Management now owns 28,318 shares of the technology company’s stock worth $857,000 after purchasing an additional 8,851 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its holdings in AT&T by 5.2% during the first quarter. Delta Asset Management LLC TN now owns 218,986 shares of the technology company’s stock worth $6,629,000 after purchasing an additional 10,760 shares during the last quarter. Institutional investors own 51.17% of the company’s stock.
A number of research firms have recently weighed in on T. Oppenheimer reissued a “hold” rating on shares of AT&T in a report on Monday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $31.00 to $34.00 in a report on Wednesday, April 28th. Credit Suisse Group cut their price target on AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Barclays lifted their price objective on AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, April 23rd. Finally, CIBC reissued a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.43.
AT&T (NYSE:T) last posted its earnings results on Wednesday, April 21st. The technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The company had revenue of $43.90 billion during the quarter, compared to analyst estimates of $42.69 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 3.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Thursday, April 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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