Pineridge Advisors LLC Sells 2,327 Shares of AT&T Inc. (NYSE:T)

Pineridge Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 39.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,626 shares of the technology company’s stock after selling 2,327 shares during the period. Pineridge Advisors LLC’s holdings in AT&T were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Keystone Financial Group increased its stake in AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after acquiring an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC purchased a new position in AT&T in the 1st quarter worth $201,000. World Investment Advisors raised its stake in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after acquiring an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. grew its position in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after purchasing an additional 365,776 shares during the period. Finally, Huber Capital Management LLC grew its position in AT&T by 2.7% during the 4th quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company’s stock worth $13,161,000 after purchasing an additional 15,000 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on T shares. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Finally, Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.05.

AT&T Stock Performance

Shares of T stock opened at $28.11 on Thursday. The stock’s 50-day moving average is $27.84 and its two-hundred day moving average is $26.24. The firm has a market cap of $202.27 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.53 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is 68.10%.

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.