Ignite Planners LLC Sells 16,903 Shares of AT&T Inc. (NYSE:T)

Ignite Planners LLC lowered its position in shares of AT&T Inc. (NYSE:TFree Report) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,139 shares of the technology company’s stock after selling 16,903 shares during the quarter. Ignite Planners LLC’s holdings in AT&T were worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of T. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new position in AT&T in the 4th quarter valued at $25,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter valued at $30,000. Western Pacific Wealth Management LP bought a new position in AT&T in the 4th quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted 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 valued at $39,000 after purchasing an additional 606 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.3 %

Shares of AT&T stock traded up $0.25 on Monday, reaching $18.65. The stock had a trading volume of 42,115,431 shares, compared to its average volume of 36,899,094. The company has a 50 day moving average price of $17.37 and a 200 day moving average price of $17.12. The stock has a market capitalization of $133.69 billion, a P/E ratio of 10.02, a P/E/G ratio of 3.56 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.70.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS 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 business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.54.

Get Our Latest Report on T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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