AT&T Inc. $T Shares Sold by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. reduced its holdings in AT&T Inc. by 6.6%, now owning 141,683 shares valued at $4,007,000.
• Analysts are divided on AT&T, with HSBC downgrading the stock to a "hold" rating, while UBS maintains a "buy" rating, raising the target price to $31.00.
• AT&T reported a quarterly earnings per share of $0.54, exceeding expectations, and announced a dividend yield of 3.8% based on its recent payout of $0.2775 per share.

Flputnam Investment Management Co. decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,683 shares of the technology company's stock after selling 10,091 shares during the quarter. Flputnam Investment Management Co.'s holdings in AT&T were worth $4,007,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. AllSquare Wealth Management LLC boosted its holdings in shares of AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC boosted its holdings in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after purchasing an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc boosted its holdings in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Finally, Kozak & Associates Inc. boosted its holdings in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of research analyst reports. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. UBS Group reiterated a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Trading Up 1.2%

Shares of T opened at $29.29 on Monday. The stock's 50-day moving average is $28.11 and its two-hundred day moving average is $27.53. The stock has a market cap of $209.43 billion, a PE ratio of 16.64, a P/E/G ratio of 3.62 and a beta of 0.44. AT&T Inc. has a 12 month low of $19.62 and a 12 month high of $29.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

AT&T Company 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.

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