AT&T Inc. $T Shares Sold by Perbak Capital Partners LLP

Key Points

• Perbak Capital Partners LLP significantly reduced its stake in AT&T, selling 87,919 shares and holding only 41,900 shares by the end of the first quarter.
• Analyst ratings for AT&T are generally positive, with UBS and Citi reaffirming "buy" ratings, while HSBC downgraded the stock from "buy" to "hold".
• AT&T announced a quarterly dividend of $0.2775, representing an annualized dividend yield of 3.8% and a payout ratio of 63.07%.

Perbak Capital Partners LLP trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 67.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,900 shares of the technology company's stock after selling 87,919 shares during the quarter. AT&T makes up 0.9% of Perbak Capital Partners LLP's investment portfolio, making the stock its 14th largest position. Perbak Capital Partners LLP's holdings in AT&T were worth $1,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of T. AllSquare Wealth Management LLC grew its position in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after buying an additional 378 shares during the last quarter. Next Level Private LLC grew its position in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc grew its position in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares during the last quarter. Finally, Kozak & Associates Inc. grew its position in shares of AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after buying an additional 398 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on T. UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Trading Up 1.2%

Shares of AT&T stock opened at $29.29 on Tuesday. AT&T Inc. has a 1 year low of $19.62 and a 1 year high of $29.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $209.43 billion, a P/E ratio of 16.64, a PEG ratio of 3.62 and a beta of 0.44. The company's fifty day moving average is $28.13 and its two-hundred day moving average is $27.56.

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 for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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