AT&T Inc. $T Stake Lessened by MYDA Advisors LLC

Key Points

• MYDA Advisors LLC reduced its stake in AT&T Inc. by 53.7%, selling 290,000 shares and leaving it with 250,000 shares, accounting for about 1.2% of its investment portfolio.
• AT&T's stock has received positive ratings from analysts, with price targets set between $30.00 and $32.00, indicating a consensus rating of "Moderate Buy".
• The company recently paid a quarterly dividend of $0.2775, translating to an annualized dividend yield of 3.8%.

MYDA Advisors LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the technology company's stock after selling 290,000 shares during the quarter. AT&T comprises 1.2% of MYDA Advisors LLC's investment portfolio, making the stock its 13th largest holding. MYDA Advisors LLC's holdings in AT&T were worth $7,070,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. AllSquare Wealth Management LLC boosted its position in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after acquiring an additional 378 shares during the last quarter. Next Level Private LLC raised its holdings in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the period. Barnes Wealth Management Group Inc raised its holdings in AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares during the period. Carolinas Wealth Consulting LLC raised its holdings 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 buying an additional 384 shares during the period. Finally, Kozak & Associates Inc. raised its holdings 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 buying an additional 398 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on T shares. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Scotiabank raised their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Stock Up 1.2%

Shares of T traded up $0.35 during mid-day trading on Friday, reaching $29.29. 26,535,515 shares of the stock traded hands, compared to its average volume of 29,711,526. The firm has a market cap of $209.43 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 3.58 and a beta of 0.42. The stock has a fifty day simple moving average of $28.11 and a 200 day simple moving average of $27.51. AT&T Inc. has a 12-month low of $19.62 and a 12-month high of $29.65. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid 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 dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

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.