NewEdge Advisors LLC Cuts Stake in AT&T Inc. $T

Key Points

• NewEdge Advisors LLC decreased its holdings in AT&T Inc. by 7.5%, owning 475,426 shares worth $13.4 million after selling 38,566 shares in the first quarter.
• AT&T reported $0.54 earnings per share for the last quarter, exceeding analyst estimates by $0.01, with a revenue of $30.85 billion.
• A quarterly dividend of $0.2775 per share was declared and paid, representing an annualized dividend yield of 3.8% with a payout ratio of 63.07%.

NewEdge Advisors LLC lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,426 shares of the technology company's stock after selling 38,566 shares during the period. NewEdge Advisors LLC's holdings in AT&T were worth $13,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Minot DeBlois Advisors LLC purchased a new position in AT&T in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the fourth quarter valued at $25,000. Stone House Investment Management LLC purchased a new position in AT&T in the first quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T in the fourth quarter valued at $27,000. Finally, Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on T. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.60.

AT&T Trading Down 2.3%

NYSE:T traded down $0.69 on Monday, hitting $28.91. The stock had a trading volume of 40,572,915 shares, compared to its average volume of 36,770,051. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a market cap of $206.68 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.66 and a beta of 0.44. The company has a fifty day moving average price of $28.23 and a two-hundred day moving average price of $27.65. AT&T Inc. has a 1-year low of $20.92 and a 1-year high of $29.79.

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

AT&T Announces Dividend

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

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.