Clearstead Trust LLC Sells 2,832 Shares of AT&T Inc. (NYSE:T)

Clearstead Trust LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 23.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,255 shares of the technology company’s stock after selling 2,832 shares during the quarter. Clearstead Trust LLC’s holdings in AT&T were worth $155,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC grew its position in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton purchased a new position in shares of AT&T during the 3rd quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% in 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 purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its position 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 valued at $41,000 after acquiring an additional 2,626 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

T stock traded up $0.03 during trading on Friday, reaching $16.85. The company had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The firm has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $16.67. 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 company has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.