LongView Wealth Management Cuts Stock Holdings in AT&T Inc. (NYSE:T)

LongView Wealth Management decreased its stake in shares of AT&T Inc. (NYSE:T) by 19.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,031 shares of the technology company’s stock after selling 9,955 shares during the period. LongView Wealth Management’s holdings in AT&T were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Natixis Advisors L.P. lifted its position in AT&T by 1.6% during the third quarter. Natixis Advisors L.P. now owns 740,864 shares of the technology company’s stock valued at $11,128,000 after purchasing an additional 11,844 shares during the period. Profund Advisors LLC raised its position in AT&T by 10.6% in the third quarter. Profund Advisors LLC now owns 77,285 shares of the technology company’s stock worth $1,161,000 after acquiring an additional 7,412 shares during the period. O Shaughnessy Asset Management LLC raised its position in AT&T by 2.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 467,611 shares of the technology company’s stock worth $7,024,000 after acquiring an additional 10,882 shares during the period. Samalin Investment Counsel LLC raised its position in AT&T by 37.6% in the third quarter. Samalin Investment Counsel LLC now owns 23,314 shares of the technology company’s stock worth $350,000 after acquiring an additional 6,368 shares during the period. Finally, Rench Wealth Management Inc. raised its position in AT&T by 2.3% in the third quarter. Rench Wealth Management Inc. now owns 277,432 shares of the technology company’s stock worth $4,167,000 after acquiring an additional 6,114 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on T shares. Scotiabank increased their price target 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. Oppenheimer reiterated an “outperform” rating and issued a $21.00 price target on shares of AT&T in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. UBS Group reissued a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $21.71.

AT&T Price Performance

T traded up $0.38 during trading on Friday, hitting $19.13. 52,807,062 shares of the company traded hands, compared to its average volume of 36,886,191. The company has a market cap of $137.17 billion, a PE ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60. The stock’s 50-day simple moving average is $17.57 and its two-hundred day simple moving average is $17.17. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.13. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.80%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.