Groupama Asset Managment Lowers Stock Position in AT&T Inc. $T

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Groupama Asset Managment lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,602 shares of the technology company's stock after selling 27,721 shares during the quarter. Groupama Asset Managment's holdings in AT&T were worth $7,597,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Legacy Financial Advisors Inc. lifted its position in shares of AT&T by 17.8% during the first quarter. Legacy Financial Advisors Inc. now owns 35,364 shares of the technology company's stock worth $1,000,000 after purchasing an additional 5,332 shares in the last quarter. Paradigm Capital Management LLC NV lifted its position in shares of AT&T by 3.3% during the first quarter. Paradigm Capital Management LLC NV now owns 59,502 shares of the technology company's stock worth $1,683,000 after purchasing an additional 1,876 shares in the last quarter. Financial Advisors Network Inc. acquired a new stake in shares of AT&T during the first quarter worth about $210,000. Wellington Management Group LLP lifted its position in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. Finally, Cornerstone Select Advisors LLC raised its holdings in AT&T by 5.4% in the first quarter. Cornerstone Select Advisors LLC now owns 128,254 shares of the technology company's stock valued at $3,627,000 after acquiring an additional 6,571 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.2%

Shares of NYSE:T opened at $28.92 on Tuesday. The stock has a market cap of $206.79 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.57 and a beta of 0.42. The firm has a fifty day moving average price of $27.93 and a 200 day moving average price of $27.27. 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 Inc. has a 1-year low of $19.34 and a 1-year high of $29.19.

AT&T (NYSE:T - Get Free Report) last issued 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. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Analysts Set New Price Targets

Several brokerages recently weighed in on T. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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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