AT&T Inc. (NYSE:T) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC cut its position in AT&T Inc. (NYSE:T) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,703 shares of the technology company’s stock after selling 11,858 shares during the quarter. Horizon Wealth Management LLC’s holdings in AT&T were worth $681,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its position in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after acquiring an additional 598 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the period. JB Capital LLC increased its holdings in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after buying an additional 614 shares during the period. Fortitude Family Office LLC increased its holdings in AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after buying an additional 614 shares during the period. Finally, Connecticut Wealth Management LLC increased its holdings in AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after buying an additional 620 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank upped their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Wolfe Research upgraded shares of 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. Deutsche Bank Aktiengesellschaft upped 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Finally, Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.73.

AT&T Stock Down 1.2 %

NYSE T traded down $0.22 during trading hours on Monday, reaching $18.89. 18,092,410 shares of the company’s stock were exchanged, compared to its average volume of 36,753,309. The company’s 50-day moving average is $17.57 and its two-hundred day moving average is $17.18. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market capitalization of $135.44 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 4.34 and a beta of 0.58.

AT&T (NYSE:T) last issued its quarterly earnings results 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. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. On average, analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.88%. AT&T’s dividend payout ratio is currently 59.68%.

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.