Rock Point Advisors LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Rock Point Advisors LLC lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,734 shares of the technology company's stock after selling 41,158 shares during the quarter. Rock Point Advisors LLC's holdings in AT&T were worth $4,800,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in T. Keystone Financial Group raised its position in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after buying an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC purchased a new stake in AT&T during the first quarter valued at approximately $201,000. World Investment Advisors raised its position in AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after purchasing an additional 63,359 shares during the period. DigitalBridge Group Inc. lifted its stake in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Finally, Huber Capital Management LLC increased its position in AT&T by 2.7% during the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after acquiring an additional 15,000 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.6%

Shares of NYSE:T opened at $28.11 on Thursday. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The firm's 50 day moving average price is $27.84 and its 200 day moving average price is $26.24. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market cap of $202.27 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted 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 business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

A number of analysts have weighed in on T shares. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Oppenheimer boosted their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Evercore ISI increased their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Finally, Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.05.

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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