Litman Gregory Wealth Management LLC Sells 8,903 Shares of AT&T Inc. (NYSE:T)

Litman Gregory Wealth Management LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,625 shares of the technology company’s stock after selling 8,903 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in AT&T were worth $1,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Axiom Financial Strategies LLC grew its stake in shares of AT&T by 12.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock worth $342,000 after acquiring an additional 1,941 shares in the last quarter. Roundview Capital LLC grew its stake in shares of AT&T by 62.3% in the 1st quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock worth $582,000 after acquiring an additional 9,450 shares in the last quarter. Sei Investments Co. grew its stake in shares of AT&T by 23.1% in the 1st quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock worth $25,983,000 after acquiring an additional 206,434 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of AT&T by 5.5% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock worth $11,262,000 after acquiring an additional 25,028 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of AT&T by 1,191.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock worth $300,000 after acquiring an additional 11,722 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T traded up $0.18 on Friday, reaching $16.51. 45,814,895 shares of the company’s stock were exchanged, compared to its average volume of 38,577,504. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $118.09 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 2.43 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.72. The stock has a fifty day simple moving average of $17.00 and a 200-day simple moving average of $16.49.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. AT&T’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.72%. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

Analysts Set New Price Targets

Several analysts have recently issued reports on T shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Finally, Tigress Financial increased their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.68.

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.