Leo Wealth LLC trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 26.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,153 shares of the technology company's stock after selling 37,043 shares during the quarter. Leo Wealth LLC's holdings in AT&T were worth $2,974,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Proficio Capital Partners LLC boosted its stake in AT&T by 39.7% in the 4th quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock worth $655,000 after buying an additional 8,179 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in AT&T by 5.8% in the 4th quarter. Kestra Advisory Services LLC now owns 1,251,244 shares of the technology company's stock valued at $28,491,000 after buying an additional 68,598 shares during the period. Picton Mahoney Asset Management increased its stake in shares of AT&T by 1,820.9% during the 4th quarter. Picton Mahoney Asset Management now owns 247,262 shares of the technology company's stock valued at $5,631,000 after acquiring an additional 234,390 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of AT&T during the 4th quarter worth about $694,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on T shares. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Scotiabank lifted their target price on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, TD Securities raised their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.12.
View Our Latest Analysis on AT&T
AT&T Stock Up 0.7%
T traded up $0.19 during trading hours on Monday, reaching $27.16. 30,699,427 shares of the stock traded hands, compared to its average volume of 38,332,375. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The company has a market cap of $195.46 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 3.37 and a beta of 0.42. 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 firm's fifty day simple moving average is $27.82 and its two-hundred day simple moving average is $26.35.
AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 68.10%.
About AT&T
(
Free Report)
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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