Towerpoint Wealth LLC Has $199,000 Holdings in AT&T Inc. (NYSE:T)

Towerpoint Wealth LLC reduced its stake in AT&T Inc. (NYSE:T) by 67.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,290 shares of the technology company’s stock after selling 23,472 shares during the quarter. Towerpoint Wealth LLC’s holdings in AT&T were worth $199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T in the 3rd quarter valued at approximately $30,000. Western Pacific Wealth Management LP bought a new position in shares of AT&T in the fourth quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock traded down $0.01 during trading on Thursday, hitting $18.76. The company had a trading volume of 28,909,695 shares, compared to its average volume of 36,762,355. The firm has a market capitalization of $134.48 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60. AT&T Inc. has a one year low of $13.43 and a one year high of $18.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock’s 50-day moving average price is $17.47 and its 200 day moving average price is $17.14.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was down .4% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price objective on shares of AT&T in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.54.

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.