AT&T Inc. (NYSE:T) Shares Sold by Nicholas Hoffman & Company LLC.

Key Points

• Nicholas Hoffman & Company LLC has reduced its stake in AT&T by 21.0% in Q1, selling 31,701 shares and retaining a total of 119,086 shares valued at approximately $3.37 million.
• AT&T's quarterly earnings surpassed expectations with $0.54 earnings per share against a consensus estimate of $0.53, and revenue rose 3.4% year-over-year to reach $30.85 billion.
• The company recently declared a quarterly dividend of $0.2775 per share, providing a 4.0% yield, while maintaining a dividend payout ratio of 63.07%.

Nicholas Hoffman & Company LLC. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,086 shares of the technology company's stock after selling 31,701 shares during the period. Nicholas Hoffman & Company LLC.'s holdings in AT&T were worth $3,368,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Minot DeBlois Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $27,000. Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. Finally, Core Alternative Capital increased 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 during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. TD Securities upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Evercore ISI lifted their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Price Performance

AT&T stock traded down $0.30 during midday trading on Wednesday, reaching $27.47. The company's stock had a trading volume of 39,238,717 shares, compared to its average volume of 33,962,996. The firm has a market capitalization of $196.45 billion, a PE ratio of 15.61, a P/E/G ratio of 3.44 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The stock's 50 day simple moving average is $27.81 and its 200 day simple moving average is $26.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share 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 issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

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.