Stablepoint Partners LLC Sells 16,445 Shares of AT&T Inc. (NYSE:T)

Stablepoint Partners LLC cut its position in AT&T Inc. (NYSE:T - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,939 shares of the technology company's stock after selling 16,445 shares during the quarter. AT&T comprises approximately 1.3% of Stablepoint Partners LLC's holdings, making the stock its 15th biggest position. Stablepoint Partners LLC's holdings in AT&T were worth $6,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC lifted its holdings in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after purchasing an additional 384 shares during the last quarter. Firethorn Wealth Partners LLC lifted its stake in shares of AT&T by 4.1% during the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after buying an additional 399 shares during the last quarter. Buska Wealth Management LLC boosted its holdings in shares of AT&T by 3.2% during the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company's stock worth $305,000 after buying an additional 412 shares during the period. Beacon Financial Group grew its stake in AT&T by 2.9% in the 1st quarter. Beacon Financial Group now owns 14,976 shares of the technology company's stock valued at $424,000 after buying an additional 417 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its position in AT&T by 1.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock worth $596,000 after acquiring an additional 421 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on T. Oppenheimer increased their target price on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Stock Performance

NYSE:T opened at $27.76 on Friday. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock's 50-day simple moving average is $27.33 and its 200 day simple moving average is $25.41. The firm has a market capitalization of $199.72 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's payout ratio is 68.10%.

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.

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