Viewpoint Capital Management LLC Cuts Stake in AT&T Inc. (NYSE:T)

Viewpoint Capital Management LLC cut its stake in AT&T Inc. (NYSE:T) by 17.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 32,124 shares of the technology company’s stock after selling 6,709 shares during the quarter. Viewpoint Capital Management LLC’s holdings in AT&T were worth $565,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the third quarter worth approximately $30,000. Western Pacific Wealth Management LP purchased a new stake in AT&T in the 4th quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of 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 acquiring an additional 606 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank boosted their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $21.00 price target on shares of AT&T in a research note on Tuesday. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Stock Up 1.9 %

T stock traded up $0.36 during mid-day trading on Friday, reaching $19.11. The company had a trading volume of 52,825,162 shares, compared to its average volume of 33,874,564. The firm has a fifty day simple moving average of $17.57 and a 200 day simple moving average of $17.17. 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 capitalization of $137.02 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 4.26 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.13.

AT&T (NYSE:T) last issued 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 firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. AT&T’s payout ratio is currently 59.68%.

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.