Elevation Point Wealth Partners LLC Sells 7,689 Shares of AT&T Inc. (NYSE:T)

Elevation Point Wealth Partners LLC lessened its stake in AT&T Inc. (NYSE:T) by 24.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,278 shares of the technology company’s stock after selling 7,689 shares during the period. Elevation Point Wealth Partners LLC’s holdings in AT&T were worth $658,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T during the 4th quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at $28,000. Finally, Tradewinds Capital Management LLC raised its position in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $28.13 on Monday. The firm has a market cap of $202.43 billion, a PE ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $17.49 and a 1-year high of $29.03. The company has a fifty day moving average price of $27.41 and a 200 day moving average price of $25.66.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s dividend payout ratio is 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Wells Fargo & Company upped their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Barclays upped their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Finally, TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.