Belpointe Asset Management LLC Sells 20,638 Shares of AT&T Inc. $T

Key Points

• Belpointe Asset Management LLC reduced its holdings in AT&T Inc. by 13.6%, selling 20,638 shares during the first quarter, bringing their total shares owned to 131,168.
• Multiple hedge funds, including Vanguard Group and GQG Partners, have increased their stakes in AT&T, with institutional investors currently holding 57.10% of the company's stock.
• Analysts have a consensus rating of Moderate Buy for AT&T, with a target price of $30.60, while the company recently reported earnings of $0.54 per share, exceeding expectations.

Belpointe Asset Management LLC lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 13.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,168 shares of the technology company's stock after selling 20,638 shares during the quarter. Belpointe Asset Management LLC's holdings in AT&T were worth $3,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 8,185,006 shares in the last quarter. GQG Partners LLC increased its holdings in AT&T by 17.7% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 purchasing an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on T shares. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price on the stock. Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group set a $32.00 target price on shares of AT&T in a report on Thursday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

AT&T Stock Up 1.8%

NYSE T opened at $29.43 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market capitalization of $210.44 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 3.57 and a beta of 0.44. The company has a fifty day moving average of $28.24 and a two-hundred day moving average of $27.68.

AT&T (NYSE:T - Get Free Report) last announced 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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

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