Bogart Wealth LLC Sells 217,923 Shares of AT&T Inc. (NYSE:T)

Bogart Wealth LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 42.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,479 shares of the technology company's stock after selling 217,923 shares during the quarter. Bogart Wealth LLC's holdings in AT&T were worth $8,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in AT&T during the fourth quarter worth about $1,858,418,000. GQG Partners LLC lifted its stake in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its stake in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after purchasing an additional 7,347,354 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.26 during trading on Tuesday, reaching $26.91. The company had a trading volume of 10,775,853 shares, compared to its average volume of 36,388,068. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19. The firm's 50-day simple moving average is $27.82 and its 200 day simple moving average is $26.38. The firm has a market capitalization of $193.60 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 business had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.13%. AT&T's payout ratio is 68.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Oppenheimer boosted their target price on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Tigress Financial boosted their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.12.

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.