Letko Brosseau & Associates Inc. lessened its position in AT&T Inc. (NYSE:T - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,225,100 shares of the technology company's stock after selling 318,325 shares during the period. AT&T makes up 2.5% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 12th largest holding. Letko Brosseau & Associates Inc. owned 0.06% of AT&T worth $119,486,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new stake in AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the 4th quarter worth $27,000. Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares in the last quarter. Finally, Core Alternative Capital grew its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
T has been the topic of several recent research reports. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. Evercore ISI increased their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.
View Our Latest Analysis on T
AT&T Stock Up 0.3%
Shares of T stock traded up $0.09 during trading hours on Wednesday, reaching $27.50. The company had a trading volume of 30,063,016 shares, compared to its average volume of 31,821,926. The company has a market capitalization of $196.64 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a twelve month low of $18.64 and a twelve month high of $29.19. The stock's fifty day simple moving average is $27.79 and its 200 day simple moving average is $26.73.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T's dividend payout ratio (DPR) is 63.07%.
AT&T Company Profile
(
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.
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