Turtle Creek Wealth Advisors LLC Sells 61,219 Shares of AT&T Inc. (NYSE:T)

Turtle Creek Wealth Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 69.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,602 shares of the technology company's stock after selling 61,219 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in AT&T were worth $752,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Next Level Private LLC grew its position in AT&T by 0.3% in 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 grew its holdings in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. grew its holdings in shares of AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its holdings in AT&T by 4.1% during the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

T stock traded up $0.19 during mid-day trading on Monday, hitting $27.16. 30,699,427 shares of the company were exchanged, compared to its average volume of 38,332,375. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The business has a 50 day simple moving average of $27.82 and a 200-day simple moving average of $26.35. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $195.46 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the firm earned $0.55 EPS. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is 68.10%.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.12.

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.