Alterna Wealth Management Inc. Lowers Stake in AT&T Inc. (NYSE:T)

Alterna Wealth Management Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,263 shares of the technology company’s stock after selling 3,699 shares during the quarter. Alterna Wealth Management Inc.’s holdings in AT&T were worth $457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake 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 worth $39,000 after acquiring an additional 606 shares in the last quarter. JB Capital LLC lifted its position in shares of AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in shares of AT&T by 0.6% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock valued at $1,877,000 after purchasing an additional 630 shares during the period. Schubert & Co grew its holdings in shares of AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after purchasing an additional 631 shares in the last quarter. Finally, MBM Wealth Consultants LLC increased its stake in AT&T by 4.5% during the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after buying an additional 678 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

NYSE:T traded up $0.03 during midday trading on Friday, hitting $16.85. 24,023,192 shares of the company were exchanged, compared to its average volume of 41,324,028. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a market capitalization of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The company has a fifty day simple moving average of $16.97 and a 200 day simple moving average of $16.64.

AT&T (NYSE:T) last posted its 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. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

Several brokerages have commented on T. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Scotiabank lifted their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

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.