Spinnaker Trust Has $2.79 Million Stock Position in AT&T Inc. (NYSE:T)

Spinnaker Trust lowered its position in AT&T Inc. (NYSE:T - Free Report) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,548 shares of the technology company's stock after selling 19,738 shares during the period. Spinnaker Trust's holdings in AT&T were worth $2,787,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its stake in AT&T by 46.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,919 shares of the technology company's stock valued at $54,000 after buying an additional 605 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of AT&T during the first quarter worth $44,000. Argent Advisors Inc. acquired a new stake in shares of AT&T during the first quarter worth $245,000. Kendall Capital Management bought a new stake in AT&T in the 1st quarter valued at $319,000. Finally, Northwest Wealth Management LLC acquired a new position in AT&T in the 1st quarter worth $204,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

T opened at $28.08 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The firm has a market cap of $202.02 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The business's fifty day moving average is $27.63 and its 200-day moving average is $25.97.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data 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). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T's dividend payout ratio (DPR) is 68.10%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Scotiabank reissued an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Evercore ISI lifted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, Williams Trading set a $30.00 target price on AT&T in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $28.90.

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.

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