BI Asset Management Fondsmaeglerselskab A S Has $14.92 Million Holdings in AT&T Inc. $T

Key Points

• BI Asset Management Fondsmaeglerselskab A S has cut its stake in AT&T Inc. by 47%, owning 527,534 shares worth approximately $14.92 million after selling 467,078 shares in the first quarter.
• AT&T reported $0.54 earnings per share for its last quarter, exceeding analysts' expectations of $0.53, with a revenue of $30.85 billion, up 3.4% from the previous year.
• The company recently declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8% with a payout ratio of 63.07% as of the latest report.

BI Asset Management Fondsmaeglerselskab A S reduced its position in AT&T Inc. (NYSE:T - Free Report) by 47.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,534 shares of the technology company's stock after selling 467,078 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in AT&T were worth $14,919,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% during the first 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 in the last quarter. Next Level Private LLC raised its holdings in AT&T by 0.3% during the first 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 in the last quarter. Carolinas Wealth Consulting LLC lifted its position in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after acquiring an additional 384 shares during the last quarter. Kozak & Associates Inc. lifted its position in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after acquiring an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after acquiring an additional 398 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.1%

T opened at $28.9480 on Wednesday. AT&T Inc. has a fifty-two week low of $19.39 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm's fifty day moving average price is $27.94 and its two-hundred day moving average price is $27.28. The company has a market capitalization of $206.99 billion, a P/E ratio of 16.45, a P/E/G ratio of 3.58 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. 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 report on Thursday, July 10th. UBS Group reissued a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, AT&T has an average rating of "Moderate Buy" and an average target price 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.

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