AT&T Inc. (NYSE:T) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its stake in AT&T Inc. (NYSE:T) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 474,902 shares of the technology company’s stock after selling 25,212 shares during the quarter. AT&T makes up approximately 1.6% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $8,358,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on T shares. Oppenheimer reissued an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Scotiabank boosted their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $21.71.

AT&T Stock Performance

NYSE T opened at $19.11 on Friday. The company has a fifty day moving average of $17.57 and a two-hundred day moving average of $17.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.13. The company has a market capitalization of $137.02 billion, a PE ratio of 10.27, a P/E/G ratio of 4.34 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

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.