Laurel Wealth Advisors LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

Laurel Wealth Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,525 shares of the technology company’s stock after selling 687 shares during the period. Laurel Wealth Advisors LLC’s holdings in AT&T were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of T. Exchange Traded Concepts LLC boosted its holdings in shares of AT&T by 33.0% in the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after acquiring an additional 10,758 shares during the period. Walkner Condon Financial Advisors LLC bought a new stake in AT&T during the third quarter valued at $438,000. Uncommon Cents Investing LLC boosted its stake in AT&T by 13.6% during the third quarter. Uncommon Cents Investing LLC now owns 25,388 shares of the technology company’s stock valued at $381,000 after buying an additional 3,039 shares during the period. Evanson Asset Management LLC boosted its stake in AT&T by 6.5% during the third quarter. Evanson Asset Management LLC now owns 21,031 shares of the technology company’s stock valued at $316,000 after buying an additional 1,285 shares during the period. Finally, Charles Schwab Trust Co bought a new stake in AT&T during the third quarter valued at $200,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on T. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. Citigroup lifted their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Tigress Financial lifted their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Trading Up 1.0 %

Shares of T traded up $0.17 during trading hours on Friday, hitting $16.75. The company had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The firm has a market cap of $119.81 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.53 and a beta of 0.57. The stock’s 50 day moving average price is $16.96 and its 200 day moving average price is $16.58. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. AT&T’s dividend payout ratio is currently 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.