AT&T Inc. (NYSE:T) Stake Reduced by Golden State Equity Partners

Golden State Equity Partners decreased its position in AT&T Inc. (NYSE:T) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,130 shares of the technology company’s stock after selling 3,095 shares during the period. Golden State Equity Partners’ holdings in AT&T were worth $875,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in shares of AT&T by 33.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after purchasing an additional 10,758 shares during the last quarter. Spirit of America Management Corp NY lifted its holdings in shares of AT&T by 46.2% during the third quarter. Spirit of America Management Corp NY now owns 9,500 shares of the technology company’s stock valued at $143,000 after purchasing an additional 3,000 shares during the last quarter. Handelsbanken Fonder AB raised its position in AT&T by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 2,128,247 shares of the technology company’s stock valued at $31,966,000 after buying an additional 115,591 shares during the period. Connecticut Wealth Management LLC raised its position in AT&T by 53.1% during the third quarter. Connecticut Wealth Management LLC now owns 20,981 shares of the technology company’s stock valued at $315,000 after buying an additional 7,278 shares during the period. Finally, Ballentine Partners LLC raised its position in AT&T by 38.6% during the third quarter. Ballentine Partners LLC now owns 52,772 shares of the technology company’s stock valued at $793,000 after buying an additional 14,710 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T traded up $0.17 during trading on Friday, hitting $16.75. 37,852,681 shares of the stock were exchanged, compared to its average volume of 39,190,348. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The company’s fifty day simple moving average is $16.96 and its 200-day simple moving average is $16.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping 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 last year, the firm earned $0.60 EPS. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.63%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Scotiabank upped their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup upped their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

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.