Litman Gregory Wealth Management LLC Sells 8,903 Shares of AT&T Inc. (NYSE:T)

Litman Gregory Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,625 shares of the technology company’s stock after selling 8,903 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in AT&T were worth $1,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. State Street Corp grew its stake in AT&T by 0.5% during the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares during the last quarter. Newport Trust Company LLC grew its stake in AT&T by 0.3% during the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Morgan Stanley grew its stake in AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after buying an additional 29,769,976 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after purchasing an additional 1,828,237 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, Tigress Financial increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Up 1.1 %

Shares of T stock traded up $0.18 during trading hours on Friday, hitting $16.51. 45,814,895 shares of the company were exchanged, compared to its average volume of 38,577,504. The business has a 50 day moving average of $17.00 and a two-hundred day moving average of $16.49. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.72. The company has a market capitalization of $118.09 billion, a PE ratio of 8.42, a PEG ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

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.