Kestra Private Wealth Services LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Kestra Private Wealth Services LLC decreased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,766 shares of the technology company's stock after selling 19,750 shares during the quarter. Kestra Private Wealth Services LLC's holdings in AT&T were worth $10,287,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter valued at $27,000. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in 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 in the last quarter. Finally, 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 valued at $29,000 after purchasing an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

AT&T Stock Performance

Shares of AT&T stock traded down $0.07 during trading hours on Friday, hitting $26.92. 27,403,482 shares of the company were exchanged, compared to its average volume of 36,405,886. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average of $27.74 and a 200-day moving average of $26.47. The stock has a market capitalization of $193.71 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the company earned $0.55 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

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.