Buckley Wealth Management LLC Trims Holdings in AT&T Inc. (NYSE:T)

Buckley Wealth Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 133,700 shares of the technology company’s stock after selling 4,000 shares during the quarter. AT&T makes up about 0.8% of Buckley Wealth Management LLC’s holdings, making the stock its 29th biggest holding. Buckley Wealth Management LLC’s holdings in AT&T were worth $2,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sora Investors LLC purchased a new stake in AT&T during the 3rd quarter worth about $11,265,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of AT&T in the 4th quarter valued at about $11,554,000. Provence Wealth Management Group lifted its holdings in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares during the last quarter. Finally, Retireful LLC purchased a new stake in shares of AT&T in the 4th quarter valued at about $1,163,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T traded up $0.25 on Friday, reaching $19.00. The stock had a trading volume of 22,592,645 shares, compared to its average volume of 36,654,266. The firm has a market capitalization of $136.23 billion, a PE ratio of 10.24, a PEG ratio of 4.26 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $17.47 and a 200 day moving average of $17.14. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.11.

AT&T (NYSE:T) last released its quarterly 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. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Sell-side analysts expect that AT&T Inc. will post 2.24 EPS 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 $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Analyst Ratings Changes

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

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.