TrueMark Investments LLC Reduces Stock Holdings in AT&T Inc. $T

TrueMark Investments LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 34.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,427 shares of the technology company’s stock after selling 157,218 shares during the quarter. AT&T makes up about 1.4% of TrueMark Investments LLC’s holdings, making the stock its 19th biggest position. TrueMark Investments LLC’s holdings in AT&T were worth $8,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Front Row Advisors LLC acquired a new stake in AT&T during the 2nd quarter worth $25,000. Mountain Hill Investment Partners Corp. grew its holdings in shares of AT&T by 363.7% during the third quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock worth $25,000 after purchasing an additional 702 shares during the last quarter. Solstein Capital LLC grew its holdings in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares in the last quarter. Finally, Curio Wealth LLC lifted its holdings in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $23.56 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market cap of $166.99 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.39. The firm’s fifty day moving average price is $24.62 and its 200 day moving average price is $26.45. AT&T Inc. has a 1-year low of $22.54 and a 1-year high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on T shares. KeyCorp restated an “overweight” rating on shares of AT&T in a research note on Wednesday. Arete Research set a $20.00 target price on shares of AT&T in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AT&T in a report on Monday, December 29th. The Goldman Sachs Group reduced their price target on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.75.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.