Avantax Planning Partners Inc. Trims Stake in AT&T Inc. (NYSE:T)

Avantax Planning Partners Inc. trimmed its position in AT&T Inc. (NYSE:T) by 7.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,487 shares of the technology company’s stock after selling 2,980 shares during the quarter. Avantax Planning Partners Inc.’s holdings in AT&T were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of 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 valued at $39,000 after buying an additional 606 shares during the last quarter. Western Pacific Wealth Management LP bought a new stake in shares of AT&T in the 4th quarter valued at about $39,000. Financial Gravity Asset Management Inc. raised its stake in shares of AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares in the last quarter. Finally, Morton Brown Family Wealth LLC lifted its position in AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after acquiring an additional 2,241 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T traded up $0.03 during mid-day trading on Friday, reaching $17.50. 24,995,960 shares of the stock were exchanged, compared to its average volume of 29,188,572. The company has a market capitalization of $125.48 billion, a P/E ratio of 9.41, a P/E/G ratio of 3.43 and a beta of 0.57. 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 business’s 50 day moving average is $17.05 and its 200-day moving average is $16.85. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16.

AT&T (NYSE:T) last announced its earnings results 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. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business 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 business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.34%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Citigroup increased their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.81.

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.