Philadelphia Trust Co. Lowers Stock Position in AT&T Inc. (NYSE:T)

Key Points

• Philadelphia Trust Co. reduced its stake in AT&T Inc. by 13.1%, owning 303,106 shares worth approximately $8.57 million after selling 45,893 shares in Q1.
• AT&T announced a quarterly dividend of $0.2775 per share with an annual yield of 3.8%, and a payout ratio of 63.07%.
• Recent analyst ratings show a consensus of "Moderate Buy" for AT&T, with an average price target of $30.21.

Philadelphia Trust Co. lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 303,106 shares of the technology company's stock after selling 45,893 shares during the period. Philadelphia Trust Co.'s holdings in AT&T were worth $8,572,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of T. Minot DeBlois Advisors LLC acquired a new position in AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in AT&T during the fourth quarter valued at $27,000. Finally, Hager Investment Management Services LLC lifted its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.5%

T stock opened at $28.89 on Friday. 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 Inc. has a twelve month low of $19.08 and a twelve month high of $29.19. The business has a 50 day moving average price of $27.90 and a two-hundred day moving average price of $27.19. The company has a market cap of $206.57 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 3.55 and a beta of 0.42.

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

AT&T Announces Dividend

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 dividend of $0.2775 per share. The ex-dividend date of this dividend 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 (DPR) is currently 63.07%.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. UBS Group restated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. TD Securities increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

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