Stoneridge Investment Partners LLC Trims Position in AT&T Inc. $T

Key Points

• Stoneridge Investment Partners LLC has reduced its position in AT&T Inc. by 57.2%, following the sale of nearly 21,000 shares during the first quarter, leaving them with holdings valued at approximately $442,000.
• AT&T recently reported quarterly earnings exceeding estimates, with earnings per share of $0.54 on revenue of $30.85 billion, signifying a 3.4% increase from the previous year.
• Analysts maintain a consensus rating of "Moderate Buy" for AT&T, with an average target price of $30.21, reflecting mixed ratings from various investment firms.

Stoneridge Investment Partners LLC cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 57.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,625 shares of the technology company's stock after selling 20,894 shares during the quarter. Stoneridge Investment Partners LLC's holdings in AT&T were worth $442,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in AT&T during the 1st quarter worth approximately $25,000. Hager Investment Management Services LLC increased its holdings in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in shares of AT&T during the 1st quarter valued at approximately $29,000. Core Alternative Capital increased its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Price Performance

AT&T stock opened at $28.9480 on Wednesday. AT&T Inc. has a 12 month low of $19.39 and a 12 month high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50 day simple moving average of $27.94 and a 200-day simple moving average of $27.28. The stock has a market capitalization of $206.99 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.58 and a beta of 0.42.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

About AT&T

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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