Simplicity Wealth LLC Sells 38,230 Shares of AT&T Inc. $T

Simplicity Wealth LLC cut its holdings in AT&T Inc. (NYSE:T) by 33.5% in the third quarter, HoldingsChannel reports. The firm owned 75,861 shares of the technology company’s stock after selling 38,230 shares during the period. Simplicity Wealth LLC’s holdings in AT&T were worth $2,142,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. J. L. Bainbridge & Co. Inc. boosted its stake in shares of AT&T by 1.7% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after acquiring an additional 355 shares in the last quarter. Financial & Tax Architects LLC lifted its holdings in AT&T by 4.9% in the 2nd quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after purchasing an additional 356 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its holdings in AT&T by 2.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after purchasing an additional 357 shares during the last quarter. Investment Partners LTD. boosted its position in AT&T by 3.5% during the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after purchasing an additional 357 shares during the period. Finally, Parcion Private Wealth LLC boosted its position in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after purchasing an additional 364 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.4%

NYSE T opened at $23.59 on Friday. AT&T Inc. has a twelve month low of $22.22 and a twelve month high of $29.79. The stock has a market cap of $167.24 billion, a PE ratio of 7.66, a PEG ratio of 1.28 and a beta of 0.39. The firm has a 50-day simple moving average of $24.66 and a 200 day simple moving average of $26.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. AT&T’s payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on T. The Goldman Sachs Group reduced their price objective on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, December 19th. TD Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley decreased their price target on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Finally, Wells Fargo & Company dropped their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.75.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.