Portside Wealth Group LLC Trims Position in AT&T Inc. (NYSE:T)

Portside Wealth Group LLC trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 28.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 72,907 shares of the technology company's stock after selling 29,483 shares during the period. Portside Wealth Group LLC's holdings in AT&T were worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of AT&T during the fourth quarter valued at approximately $96,000. Appleton Partners Inc. MA lifted its stake in shares of AT&T by 42.7% during the fourth quarter. Appleton Partners Inc. MA now owns 18,278 shares of the technology company's stock valued at $416,000 after buying an additional 5,468 shares during the period. Vest Financial LLC lifted its stake in shares of AT&T by 20.3% during the fourth quarter. Vest Financial LLC now owns 80,656 shares of the technology company's stock valued at $1,837,000 after buying an additional 13,611 shares during the period. Finally, Seelaus Asset Management LLC raised its stake in AT&T by 9.3% during the fourth quarter. Seelaus Asset Management LLC now owns 34,922 shares of the technology company's stock worth $795,000 after purchasing an additional 2,975 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on T. Evercore ISI increased their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial increased their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Price Performance

T opened at $28.09 on Monday. The company has a fifty day simple moving average of $27.32 and a 200 day simple moving average of $25.49. The firm has a market cap of $202.12 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, April 10th. 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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