Kestra Advisory Services LLC Lowers Stake in AT&T Inc. $T

Key Points

• Kestra Advisory Services LLC reduced its stake in AT&T Inc. by 6.6%, owning approximately $33 million worth of shares after selling 82,849 shares in the first quarter.
• AT&T recently posted quarterly earnings of $0.54 EPS, exceeding analyst estimates, with revenues rising to $30.85 billion, a 3.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.2775 per share, translating to an annualized yield of 3.8%, with a current dividend payout ratio of 63.07%.

Kestra Advisory Services LLC cut its position in AT&T Inc. (NYSE:T - Free Report) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168,395 shares of the technology company's stock after selling 82,849 shares during the period. Kestra Advisory Services LLC's holdings in AT&T were worth $33,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter valued at about $25,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the period. IMA Advisory Services Inc. bought a new stake in AT&T during the 1st quarter valued at approximately $29,000. Core Alternative Capital lifted its holdings in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter worth approximately $25,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $29.4350 on Friday. The company's 50-day moving average price is $27.98 and its 200-day moving average price is $27.33. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $210.47 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. AT&T Inc. has a twelve month low of $19.40 and a twelve month high of $29.56.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. 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 (DPR) is currently 63.07%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on T shares. Scotiabank lifted their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Royal Bank Of Canada raised their price objective on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, HSBC cut 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 analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

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.

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