RWA Wealth Partners LLC Has $3.65 Million Stock Position in AT&T Inc. $T

Key Points

• RWA Wealth Partners LLC reduced its holdings in AT&T Inc. by 17.9%, selling 28,202 shares, and now owns 129,083 shares worth $3.65 million.
• AT&T recently declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8% and a dividend payout ratio of 63.07%.
• Analysts have given AT&T a consensus rating of "Moderate Buy," with a price target averaging around $30.21, with several firms increasing their price objectives recently.

RWA Wealth Partners LLC trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,083 shares of the technology company's stock after selling 28,202 shares during the quarter. RWA Wealth Partners LLC's holdings in AT&T were worth $3,650,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AllSquare Wealth Management LLC increased its stake in AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after acquiring an additional 378 shares during the period. Next Level Private LLC increased its stake in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after acquiring an additional 379 shares during the period. Carolinas Wealth Consulting LLC increased its stake in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares during the period. Kozak & Associates Inc. increased its stake in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares during the period. Finally, Silver Oak Securities Incorporated grew its stake in shares of AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after purchasing an additional 398 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 2.3%

NYSE:T traded down $0.6910 during trading hours on Friday, hitting $28.7490. 22,459,325 shares of the stock were exchanged, compared to its average volume of 37,088,535. The company has a market capitalization of $205.57 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company's 50 day moving average is $27.98 and its two-hundred day moving average is $27.33. AT&T Inc. has a twelve month low of $19.51 and a twelve month high of $29.65.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI upped their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Scotiabank boosted their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AT&T has an average rating of "Moderate Buy" and an average price target 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.