AT&T Inc. (NYSE:T) Shares Sold by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,004 shares of the technology company’s stock after selling 1,083 shares during the period. Avidian Wealth Solutions LLC’s holdings in AT&T were worth $889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in shares of AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares during the period. FMR LLC boosted its holdings in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. California Public Employees Retirement System increased its stake in AT&T by 38.0% in the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after purchasing an additional 9,518,478 shares during the last quarter. Barclays PLC raised its holdings in AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after purchasing an additional 6,137,909 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in AT&T by 43.0% during the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock worth $221,242,000 after purchasing an additional 4,432,136 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.2 %

T stock traded up $0.03 during midday trading on Friday, hitting $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company’s 50-day moving average price is $16.97 and its 200 day moving average price is $16.67. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The firm’s revenue was down .4% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced 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. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Scotiabank raised their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Citigroup lifted their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Profile

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.