Retirement Guys Formula LLC Sells 28,610 Shares of AT&T Inc. (NYSE:T)

Retirement Guys Formula LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 73.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,125 shares of the technology company’s stock after selling 28,610 shares during the period. Retirement Guys Formula LLC’s holdings in AT&T were worth $178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in AT&T in the 4th quarter worth approximately $11,554,000. Provence Wealth Management Group increased its holdings in AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares in the last quarter. Clearbridge Investments LLC increased its holdings in AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Retireful LLC purchased a new stake in AT&T in the 4th quarter worth approximately $1,163,000. Finally, Brighton Jones LLC grew its holdings in AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $18.68 on Friday. The business’s 50-day moving average is $17.75 and its two-hundred day moving average is $17.23. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market capitalization of $133.94 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 4.24 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results 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 return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.94%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on T shares. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group began coverage on AT&T in a research report on Monday. They set a “buy” rating and a $22.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

AT&T Company 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.