Pacific Wealth Strategies Group Inc. Sells 64,125 Shares of AT&T Inc. (NYSE:T)


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Pacific Wealth Strategies Group Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 58.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 46,073 shares of the technology company’s stock after selling 64,125 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in AT&T were worth $1,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. BNC Wealth Management LLC acquired a new stake in AT&T in the third quarter worth $27,000. ELM Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth $59,000. Cerebellum GP LLC acquired a new stake in shares of AT&T during the third quarter worth $62,000. Provident Wealth Management LLC acquired a new stake in shares of AT&T during the third quarter worth $70,000. Finally, Planned Solutions Inc. acquired a new stake in shares of AT&T during the third quarter worth $81,000. Institutional investors and hedge funds own 52.29% of the company’s stock.

Shares of AT&T stock opened at $28.61 on Thursday. The firm has a market capitalization of $203.87 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $29.36 and its 200 day moving average is $29.09. AT&T Inc. has a 1 year low of $26.08 and a 1 year high of $39.14.

AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company had revenue of $42.43 billion for the quarter, compared to the consensus estimate of $41.66 billion. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 3.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Monday, January 11th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.27%. AT&T’s payout ratio is presently 58.26%.

T has been the topic of a number of research analyst reports. Morgan Stanley lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $36.00 to $34.00 in a report on Thursday, December 17th. BidaskClub downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, December 18th. Royal Bank of Canada decreased their price objective on shares of AT&T from $32.00 to $30.00 in a research report on Monday, October 26th. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Monday, October 5th. Finally, National Bank Financial raised shares of AT&T to an “outperform” rating and lifted their price objective for the company from $25.00 to $27.00 in a research report on Monday, November 9th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $32.40.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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