DoubleLine ETF Adviser LP Has $4.27 Million Holdings in AT&T Inc. $T

Key Points

• DoubleLine ETF Adviser LP reduced its AT&T holdings by 15.7%, bringing its total to 150,850 shares valued at approximately $4.27 million.
• AT&T reported earnings of $0.54 per share for the last quarter, exceeding analyst expectations and marking a 3.4% revenue increase year-over-year.
• Wells Fargo and JPMorgan recently boosted their price targets for AT&T to $31.00 and $33.00 respectively, with the stock currently holding a Moderate Buy consensus rating.

DoubleLine ETF Adviser LP trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,850 shares of the technology company's stock after selling 28,150 shares during the quarter. AT&T comprises approximately 1.4% of DoubleLine ETF Adviser LP's holdings, making the stock its 16th largest position. DoubleLine ETF Adviser LP's holdings in AT&T were worth $4,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of T. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new position in shares of AT&T in the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on T. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday. They set a "buy" rating and a $32.00 price target for the company. Sanford C. Bernstein reissued an "outperform" rating on shares of AT&T in a research note on Thursday. Finally, Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. One 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 data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $30.40.

AT&T Price Performance

T stock opened at $29.03 on Thursday. The stock has a market cap of $207.54 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 3.62 and a beta of 0.44. 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 company has a 50 day simple moving average of $28.17 and a 200 day simple moving average of $27.58. AT&T Inc. has a 1 year low of $20.25 and a 1 year high of $29.65.

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, 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 analysts' expectations of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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