Sowell Financial Services LLC Sells 7,195 Shares of AT&T (T)

Sowell Financial Services LLC trimmed its holdings in AT&T (NYSE:T) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,021 shares of the technology company’s stock after selling 7,195 shares during the period. AT&T comprises approximately 1.5% of Sowell Financial Services LLC’s holdings, making the stock its 12th largest holding. Sowell Financial Services LLC’s holdings in AT&T were worth $6,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in T. Israel Discount Bank of New York raised its position in shares of AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after acquiring an additional 25 shares in the last quarter. Cim LLC raised its position in shares of AT&T by 1.0% during the 2nd quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after acquiring an additional 62 shares in the last quarter. Keel Point LLC raised its position in shares of AT&T by 0.4% during the 2nd quarter. Keel Point LLC now owns 20,182 shares of the technology company’s stock valued at $761,000 after acquiring an additional 87 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of AT&T by 0.8% during the 2nd quarter. Formidable Asset Management LLC now owns 16,766 shares of the technology company’s stock valued at $633,000 after acquiring an additional 125 shares in the last quarter. Finally, Boston Research & Management Inc. raised its position in shares of AT&T by 0.3% during the 2nd quarter. Boston Research & Management Inc. now owns 40,192 shares of the technology company’s stock valued at $1,516,000 after acquiring an additional 132 shares in the last quarter. 55.94% of the stock is currently owned by institutional investors.

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In related news, EVP John T. Stankey sold 2,307 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $39.21, for a total transaction of $90,457.47. Following the completion of the transaction, the executive vice president now owns 51,672 shares of the company’s stock, valued at $2,026,059.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Donovan bought 27,997 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $35.68 per share, with a total value of $998,932.96. Following the purchase, the chief executive officer now directly owns 179,834 shares of the company’s stock, valued at $6,416,477.12. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

T has been the topic of several research reports. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.60 price target on the stock in a research report on Wednesday, January 10th. Argus reissued a “buy” rating and set a $36.83 price target (down from $48.00) on shares of AT&T in a research report on Wednesday, February 7th. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, March 5th. Guggenheim initiated coverage on AT&T in a research report on Tuesday, March 13th. They set a “buy” rating and a $42.00 price target on the stock. Finally, HSBC raised AT&T from a “hold” rating to a “buy” rating and upped their price target for the company from $34.90 to $41.00 in a research report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.56.

NYSE:T opened at $35.63 on Friday. AT&T has a 1 year low of $32.55 and a 1 year high of $40.86. The firm has a market capitalization of $220,267.33, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.47 and a beta of 0.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.89.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.13. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The company had revenue of $41.68 billion during the quarter, compared to analysts’ expectations of $41.21 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. sell-side analysts predict that AT&T will post 3.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.61%. AT&T’s payout ratio is 65.57%.

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AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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