Truvestments Capital LLC Sells 2,054 Shares of AT&T Inc. (NYSE:T)

Truvestments Capital LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,684 shares of the technology company’s stock after selling 2,054 shares during the quarter. Truvestments Capital LLC’s holdings in AT&T were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Huber Capital Management LLC lifted its holdings in shares of AT&T by 13.5% during the 1st quarter. Huber Capital Management LLC now owns 495,844 shares of the technology company’s stock valued at $8,727,000 after purchasing an additional 59,000 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of AT&T by 11.7% during the first quarter. Gabelli Funds LLC now owns 332,900 shares of the technology company’s stock worth $5,859,000 after acquiring an additional 35,000 shares during the last quarter. Senator Investment Group LP purchased a new position in shares of AT&T in the 1st quarter valued at approximately $70,400,000. Westwood Holdings Group Inc. boosted its stake in AT&T by 493.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 123,987 shares of the technology company’s stock worth $2,182,000 after purchasing an additional 103,102 shares in the last quarter. Finally, JT Stratford LLC grew its position in AT&T by 18.4% during the 1st quarter. JT Stratford LLC now owns 29,568 shares of the technology company’s stock worth $520,000 after purchasing an additional 4,600 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.9 %

Shares of AT&T stock traded down $0.18 during mid-day trading on Friday, hitting $19.01. The stock had a trading volume of 30,844,174 shares, compared to its average volume of 35,635,392. The firm has a 50-day moving average of $18.32 and a two-hundred day moving average of $17.47. The firm has a market cap of $136.30 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.69 and a beta of 0.58. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $13.89 and a 12-month high of $19.74.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.84%. AT&T’s payout ratio is currently 59.68%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday. Scotiabank raised their target price on AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.33.

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.