AT&T Inc. (NYSE:T) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in AT&T Inc. by 15.4%, selling 327,500 shares, bringing its total holdings to 1,805,800 shares worth approximately $51 million.
• Analysts have generally positive outlooks for AT&T, with target prices ranging from $30.00 to $34.00, indicating a consensus rating of "Moderate Buy."
• AT&T's recent quarterly earnings report showed an increase in revenue by 3.4% year-over-year, with earnings per share of $0.54 surpassing expectations.

Forsta AP Fonden cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 15.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,805,800 shares of the technology company's stock after selling 327,500 shares during the quarter. Forsta AP Fonden's holdings in AT&T were worth $51,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AllSquare Wealth Management LLC grew its stake in shares of 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 purchasing an additional 378 shares during the last quarter. Next Level Private LLC boosted its holdings in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after buying an additional 384 shares during the last quarter. Kozak & Associates Inc. lifted its stake in AT&T by 9.4% in the first 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 period. Finally, Silver Oak Securities Incorporated increased its position in shares of AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after buying an additional 398 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock traded up $0.02 during trading hours on Friday, reaching $28.08. 23,594,470 shares of the company traded hands, compared to its average volume of 34,716,284. The firm has a 50-day moving average price of $27.83 and a 200 day moving average price of $27.01. The company has a market cap of $200.78 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.48 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.97 and a 12-month 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.

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 (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued 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 4.0%. AT&T's dividend payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank boosted their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. TD Securities increased their price target on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Tigress Financial upped their target price on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

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.