Truvestments Capital LLC Sells 2,054 Shares of AT&T Inc. (NYSE:T)

Truvestments Capital LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,684 shares of the technology company’s stock after selling 2,054 shares during the quarter. Truvestments Capital LLC’s holdings in AT&T were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. First Pacific Financial boosted its position in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. HighMark Wealth Management LLC grew its stake in shares of AT&T by 58.2% during the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after purchasing an additional 811 shares during the period. Finally, ESL Trust Services LLC bought a new stake in AT&T in the first quarter valued at about $39,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Finally, Scotiabank increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Performance

Shares of AT&T stock traded down $0.18 during trading on Friday, reaching $19.01. The company’s stock had a trading volume of 30,844,174 shares, compared to its average volume of 35,635,392. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average price is $18.32 and its 200-day moving average price is $17.47. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.74. The firm has a market cap of $136.30 billion, a PE ratio of 10.22, a P/E/G ratio of 3.69 and a beta of 0.58.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.