Oarsman Capital Inc. Sells 55,536 Shares of AT&T Inc. $T

Key Points

• Oarsman Capital Inc. reduced its stake in AT&T by 75.7%, now holding 17,875 shares worth $506,000.
• Multiple institutional investors have adjusted their positions, with institutional ownership now at 57.10% of AT&T's stock.
• Analysts have shown bullish sentiment towards AT&T, with numerous upgrades and a consensus target price of $30.21, indicating potential growth.

Oarsman Capital Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 75.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,875 shares of the technology company's stock after selling 55,536 shares during the quarter. Oarsman Capital Inc.'s holdings in AT&T were worth $506,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC acquired a new stake in AT&T in the first quarter worth approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the 4th quarter valued at $27,000. Finally, Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2%

T traded up $0.35 during midday trading on Friday, hitting $29.29. 26,535,515 shares of the company were exchanged, compared to its average volume of 29,711,526. The firm's 50 day moving average price is $28.11 and its 200-day moving average price is $27.51. AT&T Inc. has a 1-year low of $19.62 and a 1-year high of $29.65. The firm has a market capitalization of $209.43 billion, a P/E ratio of 16.64, a P/E/G ratio of 3.62 and a beta of 0.42. 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 announced 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 the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.21.

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.