Allen Mooney & Barnes Investment Advisors LLC Sells 7,194 Shares of AT&T Inc. (NYSE:T)

Allen Mooney & Barnes Investment Advisors LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,415 shares of the technology company’s stock after selling 7,194 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in AT&T were worth $6,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T in the fourth quarter worth $27,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter worth $28,000. Finally, Tradewinds Capital Management LLC boosted its holdings in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.4%

T opened at $28.32 on Thursday. The company has a market capitalization of $203.74 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm’s fifty day moving average price is $27.35 and its two-hundred day moving average price is $25.56. AT&T Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the business posted $0.55 earnings per share. AT&T’s revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Monday, April 7th. Finally, Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.