Dominguez Wealth Management Solutions Inc. Sells 1,241 Shares of AT&T Inc. (NYSE:T)

Dominguez Wealth Management Solutions Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,551 shares of the technology company’s stock after selling 1,241 shares during the quarter. AT&T makes up approximately 1.1% of Dominguez Wealth Management Solutions Inc.’s portfolio, making the stock its 19th largest holding. Dominguez Wealth Management Solutions Inc.’s holdings in AT&T were worth $1,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter valued at about $30,000. Reston Wealth Management LLC purchased a new stake in shares of AT&T in the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the third quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $22.30 on Friday. The stock has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $21.29.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.