Beacon Pointe Advisors LLC Sells 76,245 Shares of AT&T Inc. (NYSE:T)

Beacon Pointe Advisors LLC lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 872,349 shares of the technology company's stock after selling 76,245 shares during the quarter. Beacon Pointe Advisors LLC's holdings in AT&T were worth $14,638,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Sora Investors LLC purchased a new position in AT&T during the third quarter valued at $11,265,000. Provence Wealth Management Group grew its stake in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company's stock valued at $272,000 after acquiring an additional 5,807 shares during the period. Checchi Capital Advisers LLC increased its holdings in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company's stock worth $585,000 after acquiring an additional 1,178 shares in the last quarter. Retireful LLC bought a new stake in shares of AT&T during the 4th quarter valued at $1,163,000. Finally, Brighton Jones LLC grew its stake in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company's stock worth $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Barclays raised AT&T from an "equal weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. TheStreet upgraded AT&T from a "c" rating to a "b-" rating in a research report on Wednesday, January 24th. Oppenheimer raised AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Wolfe Research upgraded AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Finally, Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average price target of $20.81.

AT&T Price Performance

Shares of T stock traded down $0.02 during mid-day trading on Thursday, hitting $17.31. 24,666,859 shares of the stock traded hands, compared to its average volume of 37,789,996. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The firm has a market cap of $124.08 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 3.40 and a beta of 0.57. The company's 50-day simple moving average is $17.01 and its 200-day simple moving average is $16.77. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company's revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.41%. AT&T's payout ratio is 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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