AT&T Inc. (NYSE:T) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 23.4% during the fourth quarter, Holdings Channel reports. The firm owned 9,255 shares of the technology company’s stock after selling 2,832 shares during the quarter. Clearstead Trust LLC’s holdings in AT&T were worth $155,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sora Investors LLC purchased a new stake in AT&T in the 3rd quarter valued at approximately $11,265,000. Provence Wealth Management Group boosted its stake in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after buying an additional 1,178 shares during the last quarter. Retireful LLC purchased a new position in shares of AT&T during the fourth quarter valued at approximately $1,163,000. Finally, Brighton Jones LLC lifted its stake in shares of AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Performance

T traded up $0.03 during trading hours on Friday, hitting $16.85. 24,023,192 shares of the stock were exchanged, compared to its average volume of 41,324,028. The stock has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The stock has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $16.67. 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 Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

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, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Analysts anticipate 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 was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s payout ratio is currently 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.