Sound Income Strategies LLC Sells 434,405 Shares of AT&T Inc. (NYSE:T)

Sound Income Strategies LLC decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 34.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 842,888 shares of the technology company's stock after selling 434,405 shares during the quarter. AT&T accounts for approximately 1.4% of Sound Income Strategies LLC's portfolio, making the stock its 15th largest position. Sound Income Strategies LLC's holdings in AT&T were worth $23,837,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in AT&T in the fourth quarter worth $27,000. Marshall Investment Management LLC bought a new position in AT&T in the fourth quarter valued at $28,000. Finally, Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.5%

NYSE T opened at $28.13 on Friday. The stock has a market cap of $202.43 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03. The stock has a 50 day simple moving average of $27.41 and a two-hundred day simple moving average of $25.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the business earned $0.55 EPS. The business's revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is currently 68.10%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Evercore ISI upped their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Scotiabank reissued an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Finally, TD Securities boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $28.71.

About AT&T

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.

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