Delta Financial Advisors LLC Sells 3,831 Shares of AT&T Inc. (NYSE:T)

Delta Financial Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 14.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,474 shares of the technology company’s stock after selling 3,831 shares during the quarter. Delta Financial Advisors LLC’s holdings in AT&T were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Carmel Capital Partners LLC raised its position in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the 3rd quarter worth approximately $30,000. FWL Investment Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $34,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T traded up $0.08 on Thursday, hitting $16.20. 13,480,460 shares of the company’s stock were exchanged, compared to its average volume of 38,255,508. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.83. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $17.02 and a 200-day moving average price of $16.48. The stock has a market cap of $115.88 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued 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 6.85%. AT&T’s dividend payout ratio is presently 56.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup raised their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.68.

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.