Oliver Luxxe Assets LLC Sells 943 Shares of AT&T Inc. (NYSE:T)

Oliver Luxxe Assets LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,771 shares of the technology company’s stock after selling 943 shares during the period. Oliver Luxxe Assets LLC’s holdings in AT&T were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc increased its position in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its position in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the period. JB Capital LLC increased its position in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after buying an additional 614 shares during the period. Fortitude Family Office LLC increased its position in AT&T by 1.5% during the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after buying an additional 614 shares during the period. Finally, Connecticut Wealth Management LLC increased its position in AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after buying an additional 620 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7 %

Shares of T stock opened at $18.98 on Tuesday. The business’s fifty day moving average price is $17.57 and its 200 day moving average price is $17.18. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The firm has a market capitalization of $136.09 billion, a PE ratio of 10.20, a P/E/G ratio of 4.34 and a beta of 0.58. 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 (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share 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 analyst estimates of $30.62 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 5.85%. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday. They set a “buy” rating and a $22.00 price target on the stock. Scotiabank boosted their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Oppenheimer reissued an “outperform” rating and issued a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $21.73.

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.