SVB Wealth LLC Sells 633 Shares of AT&T Inc. (NYSE:T)

SVB Wealth LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,494 shares of the technology company’s stock after selling 633 shares during the period. SVB Wealth LLC’s holdings in AT&T were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $269,000. Trueblood Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth approximately $219,000. Ritholtz Wealth Management increased its position in AT&T by 34.3% during the fourth quarter. Ritholtz Wealth Management now owns 57,607 shares of the technology company’s stock worth $967,000 after buying an additional 14,723 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in AT&T by 9.7% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 18,425 shares of the technology company’s stock worth $309,000 after buying an additional 1,626 shares during the last quarter. Finally, Blue Trust Inc. increased its position in AT&T by 18.5% during the fourth quarter. Blue Trust Inc. now owns 34,366 shares of the technology company’s stock worth $577,000 after buying an additional 5,358 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.6 %

AT&T stock traded down $0.11 during trading hours on Monday, reaching $18.90. 30,779,270 shares of the company’s stock were exchanged, compared to its average volume of 36,768,941. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $17.47. AT&T Inc. has a twelve month low of $13.89 and a twelve month high of $19.74. The firm has a market capitalization of $135.52 billion, a PE ratio of 10.17, a PEG ratio of 3.22 and a beta of 0.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.87%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays boosted their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. Scotiabank boosted their price objective on AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a report on Thursday. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.