Evanson Asset Management LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Evanson Asset Management LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,154 shares of the technology company’s stock after selling 1,125 shares during the quarter. Evanson Asset Management LLC’s holdings in AT&T were worth $320,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter worth $25,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of AT&T during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Oppenheimer reiterated an “outperform” rating and issued a $21.00 price objective on shares of AT&T in a research report on Tuesday. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.54.

AT&T Stock Up 0.3 %

T opened at $18.71 on Wednesday. The firm has a 50 day moving average price of $17.42 and a 200 day moving average price of $17.13. The company has a market cap of $134.15 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 4.24 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.73. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the company earned $0.60 earnings per share. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

About AT&T

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.