AT&T Inc. $T Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in AT&T by 21.2%, selling 175,193 shares in Q1, leaving them with approximately 652,132 shares valued at $18.44 million.
• AT&T recently announced a quarterly dividend of $0.2775 per share, translating to an annualized dividend yield of 3.8%, with a payout ratio of 63.07%.
• Multiple brokerages raised their price targets for AT&T, with JPMorgan Chase increasing their target to $33.00, reflecting a favorable outlook for the stock.

Logan Capital Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 652,132 shares of the technology company's stock after selling 175,193 shares during the quarter. AT&T makes up approximately 0.8% of Logan Capital Management Inc.'s investment portfolio, making the stock its 27th largest position. Logan Capital Management Inc.'s holdings in AT&T were worth $18,442,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. AllSquare Wealth Management LLC increased its position in shares of AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after purchasing an additional 378 shares during the period. Next Level Private LLC increased its holdings in shares of AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares in the last quarter. Barnes Wealth Management Group Inc grew its holdings in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after buying an additional 380 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after purchasing an additional 384 shares in the last quarter. Finally, Kozak & Associates Inc. grew its stake in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on T shares. JPMorgan Chase & Co. lifted their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price of $30.60.

AT&T Trading Down 0.7%

Shares of NYSE:T traded down $0.21 during trading on Wednesday, reaching $29.21. 25,362,819 shares of the company traded hands, compared to its average volume of 28,433,638. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $208.88 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 3.66 and a beta of 0.44. The business's fifty day moving average is $28.26 and its 200-day moving average is $27.69. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.36% and a net margin of 10.29%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. 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 is currently 63.07%.

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.