Golden State Equity Partners Sells 3,095 Shares of AT&T Inc. (NYSE:T)

Golden State Equity Partners decreased its position in shares of AT&T Inc. (NYSE:T) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,130 shares of the technology company’s stock after selling 3,095 shares during the period. Golden State Equity Partners’ holdings in AT&T were worth $875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carmel Capital Partners LLC boosted its position in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares during the last quarter. Lipe & Dalton bought a new position in shares of AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T during the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of 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 acquiring an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC boosted its position in shares of AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after acquiring an additional 2,241 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Citigroup increased their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays increased their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Price Performance

Shares of AT&T stock traded up $0.17 during trading hours on Friday, reaching $16.75. 37,852,681 shares of the company’s stock were exchanged, compared to its average volume of 39,190,348. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a market capitalization of $119.81 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The business has a fifty day moving average of $16.96 and a two-hundred day moving average of $16.56. 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 (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.21 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 Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. 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 presently 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.