Harvest Portfolios Group Inc. Reduces Holdings in AT&T Inc. $T

Key Points

• Harvest Portfolios Group Inc. reduced its stake in AT&T Inc. by 9.2%, owning 242,576 shares worth approximately $6.86 million after selling 24,653 shares in the first quarter.
• AT&T recently announced a quarterly dividend of $0.2775 per share, representing an annualized dividend yield of 3.9%, with a payout ratio of 63.07%.
• Analysts have a consensus rating of "Moderate Buy" for AT&T, with an average target price of $30.21, following recent adjustments from multiple firms.

Harvest Portfolios Group Inc. trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,576 shares of the technology company's stock after selling 24,653 shares during the period. Harvest Portfolios Group Inc.'s holdings in AT&T were worth $6,860,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new stake in AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC purchased a new position in AT&T during the first quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter worth $27,000. Finally, Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% in the first 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 in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T stock opened at $28.77 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $19.59 and a twelve month high of $29.65. The stock has a market capitalization of $205.72 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42. The firm's fifty day simple moving average is $28.01 and its two-hundred day simple moving average is $27.43.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for 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%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

Analyst Ratings Changes

Several research firms have recently commented on T. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. UBS Group restated a "buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Scotiabank boosted their price target 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. 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 company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

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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