Rock Point Advisors LLC decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.
Other institutional investors have also modified their holdings of the company. Next Level Private LLC raised its stake in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC raised its stake in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. raised its stake in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the period. Silver Oak Securities Incorporated raised its stake in AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares during the period. Finally, Firethorn Wealth Partners LLC raised its stake in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Tigress Financial boosted their price target on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. Oppenheimer upped their target price 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, Royal Bank Of Canada boosted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.12.
Check Out Our Latest Report on T
AT&T Price Performance
Shares of NYSE:T traded down $0.65 on Friday, reaching $26.97. 42,637,282 shares of the company were exchanged, compared to its average volume of 36,516,853. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The firm has a market cap of $194.07 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42. The company has a 50-day moving average of $27.82 and a 200-day moving average of $26.30.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS 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%. AT&T's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T's dividend payout ratio is currently 68.10%.
About AT&T
(
Free Report)
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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