Powers Advisory Group LLC Cuts Position in AT&T Inc. (NYSE:T)

Powers Advisory Group LLC cut its stake in AT&T Inc. (NYSE:T) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,917 shares of the technology company’s stock after selling 2,187 shares during the quarter. Powers Advisory Group LLC’s holdings in AT&T were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Frank Rimerman Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. Pineridge Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in AT&T by 35.3% during the 4th 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. Finally, Western Pacific Wealth Management LP purchased a new position in AT&T during the 4th quarter worth $39,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.7 %

Shares of NYSE T traded down $0.14 during trading on Thursday, hitting $18.68. 19,462,997 shares of the company traded hands, compared to its average volume of 33,098,884. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.32. The company has a 50-day moving average price of $17.71 and a 200-day moving average price of $17.22. The firm has a market capitalization of $133.94 billion, a P/E ratio of 10.04, a P/E/G ratio of 4.27 and a beta of 0.58. The company has a quick ratio of 0.63, a current ratio of 0.68 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. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.94%. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. UBS Group reaffirmed 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 target for the company in a research report on Monday, April 29th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $21.73.

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.