Trueblood Wealth Management LLC Lowers Stock Position in AT&T Inc. (NYSE:T)

Trueblood Wealth Management LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,039 shares of the technology company’s stock after selling 553 shares during the quarter. Trueblood Wealth Management LLC’s holdings in AT&T were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Diversify Advisory Services LLC increased its stake in shares of AT&T by 1.5% in the fourth quarter. Diversify Advisory Services LLC now owns 67,656 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 974 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in AT&T by 16.1% in the 4th quarter. Diversify Wealth Management LLC now owns 21,155 shares of the technology company’s stock worth $459,000 after buying an additional 2,936 shares during the period. Successful Portfolios LLC increased its stake in AT&T by 2.7% in the 4th quarter. Successful Portfolios LLC now owns 19,544 shares of the technology company’s stock worth $445,000 after buying an additional 515 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of AT&T by 5.4% in the fourth quarter. Annex Advisory Services LLC now owns 16,912 shares of the technology company’s stock valued at $385,000 after acquiring an additional 859 shares in the last quarter. Finally, Kaydan Wealth Management Inc. boosted its stake in shares of AT&T by 3.0% in the fourth quarter. Kaydan Wealth Management Inc. now owns 18,576 shares of the technology company’s stock worth $423,000 after acquiring an additional 539 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $22.30 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $22.79 and its two-hundred day moving average is $21.33. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a market capitalization of $159.97 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

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.