Sovereign Financial Group Inc. Reduces Position in AT&T Inc. (NYSE:T)

Sovereign Financial Group Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,919 shares of the technology company's stock after selling 10,935 shares during the period. Sovereign Financial Group Inc.'s holdings in AT&T were worth $1,157,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Consolidated Planning Corp grew its stake in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after buying an additional 21,927 shares during the period. Keystone Financial Group grew its stake in shares of AT&T by 196.3% in 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 during the period. World Investment Advisors lifted its holdings in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. lifted its holdings 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 worth $65,255,000 after acquiring an additional 365,776 shares during the last quarter. Finally, Fortress Financial Solutions LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $691,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Up 1.2%

NYSE T opened at $28.09 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm's fifty day moving average price is $27.32 and its 200 day moving average price is $25.45. The company has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03.

AT&T (NYSE:T - Get Free Report) last posted its earnings results 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 company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on T shares. Cowen restated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. TD Securities upped 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. Evercore ISI upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

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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