Gitterman Wealth Management LLC Sells 16,545 Shares of AT&T Inc. $T

Key Points

• Gitterman Wealth Management LLC reduced its stake in AT&T Inc. by 53.8%, selling 16,545 shares and retaining 14,207 shares valued at $402,000.
• AT&T reported a $0.54 EPS for the last quarter, exceeding estimates, and experienced a 3.4% increase in revenue year-over-year, with total revenue of $30.85 billion.
• The company declared a $0.2775 quarterly dividend, yielding 3.8%, with a payout ratio of 63.07%.

Gitterman Wealth Management LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 53.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,207 shares of the technology company's stock after selling 16,545 shares during the period. Gitterman Wealth Management LLC's holdings in AT&T were worth $402,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the period. GQG Partners LLC boosted its holdings in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. Northern Trust Corp boosted its holdings in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after buying an additional 1,307,009 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T traded down $0.7110 during mid-day trading on Friday, hitting $28.7290. 33,993,083 shares of the company's stock traded hands, compared to its average volume of 30,014,602. The company's 50-day moving average is $27.99 and its two-hundred day moving average is $27.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market capitalization of $205.42 billion, a P/E ratio of 16.32, a PEG ratio of 3.56 and a beta of 0.42. AT&T Inc. has a 1 year low of $19.51 and a 1 year high of $29.65.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Tigress Financial boosted their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $30.21.

AT&T Company 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.