Woodmont Investment Counsel LLC Sells 805 Shares of AT&T Inc. (NYSE:T)

Woodmont Investment Counsel LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 2.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,180 shares of the technology company’s stock after selling 805 shares during the period. Woodmont Investment Counsel LLC’s holdings in AT&T were worth $496,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Frank Rimerman Advisors LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Ramirez Asset Management Inc. bought a new stake in AT&T in the 3rd quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in AT&T by 35.3% in 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 acquiring an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in AT&T in the 4th quarter worth $39,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on T shares. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday. They issued a “buy” rating and a $22.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.73.

AT&T Stock Down 0.8 %

NYSE:T opened at $18.82 on Wednesday. The firm has a market cap of $134.94 billion, a P/E ratio of 10.12, a P/E/G ratio of 4.34 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.32. The firm has a 50-day simple moving average of $17.63 and a two-hundred day simple moving average of $17.20.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.90%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.