Mosaic Financial Group LLC Sells 122,996 Shares of AT&T Inc. $T

Key Points

• Mosaic Financial Group LLC reduced its holdings in AT&T by 49.0%, now owning 128,230 shares, making it the 6th largest position in their portfolio.
• Multiple institutional investors have increased their stakes in AT&T, with Price T Rowe Associates Inc. MD boosting their position by 32.0% during the first quarter.
• AT&T recently declared a quarterly dividend of $0.2775, resulting in an annualized dividend yield of 3.8%.

Mosaic Financial Group LLC cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 49.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,230 shares of the technology company's stock after selling 122,996 shares during the quarter. AT&T comprises about 2.9% of Mosaic Financial Group LLC's investment portfolio, making the stock its 6th biggest holding. Mosaic Financial Group LLC's holdings in AT&T were worth $3,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares in the last quarter. GQG Partners LLC grew its stake in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Northern Trust Corp grew its stake in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AT&T by 31.8% during the 4th 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 valued at $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 2.4%

T traded down $0.7110 during midday trading on Friday, reaching $28.7290. 33,993,083 shares of the company were exchanged, compared to its average volume of 30,014,602. 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 one year low of $19.51 and a one year high of $29.65. The stock has a market capitalization of $205.42 billion, a P/E ratio of 16.32, a PEG ratio of 3.64 and a beta of 0.42. The stock's 50-day simple moving average is $27.99 and its 200 day simple moving average is $27.36.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. The company's revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

T has been the subject of several recent research reports. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank Of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. 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 given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

About AT&T

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.