Fortis Group Advisors LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Fortis Group Advisors LLC decreased its position in AT&T Inc. (NYSE:T - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,824 shares of the technology company's stock after selling 17,192 shares during the period. Fortis Group Advisors LLC's holdings in AT&T were worth $2,851,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Financial Group grew its stake in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after purchasing an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new position in AT&T in the 1st quarter valued at $201,000. World Investment Advisors raised its holdings in shares of AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after buying an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. grew its position in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after acquiring an additional 365,776 shares during the last quarter. Finally, Huber Capital Management LLC grew its position in shares of AT&T by 2.7% in the 4th quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after buying an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. TD Securities upped their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Oppenheimer increased their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, UBS Group reaffirmed 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

AT&T Stock Performance

Shares of NYSE:T traded down $0.07 during midday trading on Friday, hitting $26.92. The company had a trading volume of 27,403,482 shares, compared to its average volume of 36,373,567. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The company has a market cap of $193.71 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The company has a fifty day moving average of $27.76 and a two-hundred day moving average of $26.41.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is currently 68.10%.

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.