Adams Asset Advisors LLC reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 432,279 shares of the technology company's stock after selling 196,649 shares during the quarter. AT&T accounts for 1.7% of Adams Asset Advisors LLC's investment portfolio, making the stock its 15th biggest holding. Adams Asset Advisors LLC's holdings in AT&T were worth $12,225,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of T. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after buying an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on T. Barclays lifted their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada lifted their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average target price of $28.76.
Read Our Latest Stock Report on AT&T
AT&T Stock Down 0.0%
T opened at $27.65 on Thursday. AT&T Inc. has a one year low of $17.90 and a one year high of $29.03. The company has a market cap of $198.92 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 3.85 and a beta of 0.41. The business's fifty day moving average is $27.49 and its two-hundred day moving average is $25.72. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70.
AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the firm earned $0.55 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.02%. AT&T's dividend payout ratio (DPR) is 68.10%.
About AT&T
(
Free Report)
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.
Further Reading
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