MFG Wealth Management Inc. Lowers Position in AT&T Inc. (NYSE:T)

MFG Wealth Management Inc. reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 18.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 118,588 shares of the technology company's stock after selling 27,174 shares during the quarter. AT&T accounts for approximately 3.2% of MFG Wealth Management Inc.'s portfolio, making the stock its 2nd largest holding. MFG Wealth Management Inc.'s holdings in AT&T were worth $3,354,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Keystone Financial Group raised its position in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after purchasing an additional 143,744 shares during the period. Capstone Wealth Management LLC purchased a new position in AT&T in the 1st quarter valued at approximately $201,000. World Investment Advisors grew its stake in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after acquiring an additional 365,776 shares during the period. Finally, West Family Investments Inc. lifted its position in shares of AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock worth $864,000 after acquiring an additional 15,680 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Finally, Scotiabank reissued an "outperform" rating on shares of AT&T 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.76.

AT&T Price Performance

Shares of T stock opened at $27.93 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.03. The firm has a market cap of $200.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.01 and a beta of 0.41. The business's 50 day moving average price is $27.59 and its 200-day moving average price is $25.87.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T's dividend payout ratio is currently 68.10%.

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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