Sequoia Financial Advisors LLC Sells 3,873 Shares of AT&T Inc. (NYSE:T)

Sequoia Financial Advisors LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,746 shares of the technology company’s stock after selling 3,873 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in AT&T were worth $10,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in AT&T during the 4th quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new position in AT&T during the 4th quarter worth $30,000. Finally, REAP Financial Group LLC lifted its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after buying an additional 727 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

T stock opened at $28.04 on Friday. The stock has a market cap of $201.73 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.96 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a 50 day simple moving average of $27.61 and a 200 day simple moving average of $25.91. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s payout ratio is 68.10%.

Wall Street Analyst Weigh In

A number of research firms recently commented on T. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Royal Bank Of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.76.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.