Sunpointe LLC Sells 1,511 Shares of AT&T Inc. (NYSE:T)

by · The Markets Daily

Sunpointe LLC cut its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,699 shares of the technology company’s stock after selling 1,511 shares during the quarter. Sunpointe LLC’s holdings in AT&T were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Prosperity Consulting Group LLC raised its position in shares of AT&T by 0.8% during the first quarter. Prosperity Consulting Group LLC now owns 85,289 shares of the technology company’s stock worth $2,412,000 after acquiring an additional 650 shares during the last quarter. Vantage Financial Partners LLC increased its position in AT&T by 4.0% during the 1st quarter. Vantage Financial Partners LLC now owns 42,672 shares of the technology company’s stock valued at $1,207,000 after purchasing an additional 1,638 shares during the period. University of Texas Texas AM Investment Management Co. increased its position in AT&T by 1,424.0% during the 1st quarter. University of Texas Texas AM Investment Management Co. now owns 175,473 shares of the technology company’s stock valued at $4,962,000 after purchasing an additional 163,959 shares during the period. TCW Group Inc. raised its holdings in AT&T by 7.9% during the 1st quarter. TCW Group Inc. now owns 2,271,200 shares of the technology company’s stock worth $64,230,000 after purchasing an additional 165,743 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of AT&T by 1.2% in the 1st quarter. LPL Financial LLC now owns 10,276,324 shares of the technology company’s stock worth $290,614,000 after purchasing an additional 123,447 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Oppenheimer boosted their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.66.

Get Our Latest Stock Analysis on T

AT&T Stock Up 0.3%

Shares of NYSE T opened at $28.02 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50-day moving average price of $27.81 and a 200-day moving average price of $26.68. The stock has a market capitalization of $201.58 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.49 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. AT&T’s dividend payout ratio is presently 63.07%.

About AT&T

(Free Report)

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.

Further Reading

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