Dynamic Financial Group Trims Position in AT&T Inc. (NYSE:T)

Key Points

• Dynamic Financial Group reduced its stake in AT&T Inc. by 27.0%, bringing its holdings down to 32,469 shares valued at approximately $918,000.
• Analysts have set new price targets for AT&T, with Morgan Stanley increasing theirs from $31.00 to $32.00, while the average price target is now $30.21, reflecting a consensus rating of "Moderate Buy."
• AT&T recently announced a quarterly dividend of $0.2775 per share, representing an annual yield of 3.8%.

Dynamic Financial Group cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,469 shares of the technology company's stock after selling 12,026 shares during the period. AT&T accounts for approximately 0.9% of Dynamic Financial Group's portfolio, making the stock its 13th largest holding. Dynamic Financial Group's holdings in AT&T were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Brighton Jones LLC boosted its stake in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after buying an additional 10,188 shares during the period. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at about $213,000. Jump Financial LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $1,471,000. NewEdge Advisors LLC grew its holdings in shares of AT&T by 4.7% during the fourth quarter. NewEdge Advisors LLC now owns 513,992 shares of the technology company's stock worth $11,704,000 after purchasing an additional 23,031 shares in the last quarter. Finally, Farringdon Capital Ltd. bought a new position in shares of AT&T in the fourth quarter worth approximately $247,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on T shares. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Tigress Financial boosted their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Scotiabank lifted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Finally, UBS Group restated a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $30.21.

AT&T Stock Performance

Shares of T stock opened at $28.89 on Friday. The company has a market capitalization of $206.57 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a one year low of $19.08 and a one year high of $29.19. The company's 50-day moving average is $27.90 and its 200 day moving average is $27.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a 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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