AT&T Inc. (NYSE:T) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,845 shares of the technology company’s stock after selling 11,116 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in AT&T were worth $2,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its holdings in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC boosted its holdings in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank acquired a new position in AT&T in the fourth quarter worth $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $27.65 on Thursday. The business’s 50-day moving average price is $27.49 and its 200 day moving average price is $25.72. The firm has a market cap of $198.92 billion, a P/E ratio of 16.96, a PEG ratio of 3.85 and a beta of 0.41. AT&T Inc. has a 52-week low of $17.90 and a 52-week high of $29.03. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.02%. AT&T’s dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.76.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.