NorthRock Partners LLC Cuts Holdings in AT&T Inc. (NYSE:T)

NorthRock Partners LLC reduced its position in AT&T Inc. (NYSE:T) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,133 shares of the technology company’s stock after selling 5,862 shares during the period. NorthRock Partners LLC’s holdings in AT&T were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. HighMark Wealth Management LLC lifted its position 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 in the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in shares of AT&T in the fourth quarter valued at $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Scotiabank lifted their price target on shares of AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research note on Wednesday, July 10th. Oppenheimer reissued an “outperform” rating and issued a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

AT&T Price Performance

Shares of AT&T stock traded up $0.15 on Tuesday, hitting $18.73. The company had a trading volume of 2,028,717 shares, compared to its average volume of 36,111,031. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a market cap of $134.30 billion, a PE ratio of 9.98, a PEG ratio of 3.55 and a beta of 0.58. The business has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $17.35. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last announced its quarterly earnings data 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 return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.23 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.93%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.