Compass Ion Advisors LLC Sells 889 Shares of AT&T Inc. (NYSE:T)

Compass Ion Advisors LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,409 shares of the technology company’s stock after selling 889 shares during the quarter. Compass Ion Advisors LLC’s holdings in AT&T were worth $306,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pineridge Advisors LLC bought a new position in AT&T in the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth $25,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at $30,000. Western Pacific Wealth Management LP bought a new stake in shares of AT&T during the 4th quarter worth about $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $18.98 on Tuesday. The firm has a 50 day moving average of $17.57 and a 200-day moving average of $17.18. The stock has a market capitalization of $136.09 billion, a PE ratio of 10.20, a PEG ratio of 4.34 and a beta of 0.58. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.32.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, April 29th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday. They set a “buy” rating and a $22.00 target price for the company. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 target price on shares of AT&T in a report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target 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.