AT&T Inc. (NYSE:T) Shares Sold by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC trimmed its stake in AT&T Inc. (NYSE:T) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of AT&T by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after purchasing an additional 2,155,232 shares during the period. Norges Bank purchased a new position in shares of AT&T during the 4th quarter worth about $1,118,288,000. Ameriprise Financial Inc. boosted its position in shares of AT&T by 185.6% in the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after purchasing an additional 1,137,792 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.9 %

Shares of AT&T stock traded up $0.36 on Friday, reaching $19.11. 52,825,162 shares of the company were exchanged, compared to its average volume of 33,874,564. The company has a 50-day moving average of $17.57 and a 200 day moving average of $17.17. AT&T Inc. has a one year low of $13.43 and a one year high of $19.13. The company has a market capitalization of $137.02 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 4.26 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its quarterly earnings data 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 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 business earned $0.60 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts forecast 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 will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several research firms have issued reports on T. Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Oppenheimer restated an “outperform” rating and set a $21.00 price objective on shares of AT&T in a research note on Tuesday. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Company 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.