Transcend Capital Advisors LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Transcend Capital Advisors LLC lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 36.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,537 shares of the technology company's stock after selling 19,863 shares during the period. Transcend Capital Advisors LLC's holdings in AT&T were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of T. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $71,000. NewEdge Wealth LLC grew its stake in shares of AT&T by 9.7% during the fourth quarter. NewEdge Wealth LLC now owns 73,864 shares of the technology company's stock worth $1,682,000 after acquiring an additional 6,553 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of AT&T by 2,552.6% during the fourth quarter. Proficio Capital Partners LLC now owns 546,517 shares of the technology company's stock worth $12,444,000 after acquiring an additional 525,914 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of AT&T during the fourth quarter worth about $381,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Securities boosted their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $28.90.

AT&T Trading Up 0.3%

Shares of NYSE:T opened at $28.08 on Friday. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The company has a market capitalization of $202.02 billion, a PE ratio of 17.22, a PEG ratio of 3.98 and a beta of 0.41. The business has a 50 day moving average of $27.63 and a two-hundred day moving average of $25.95. 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 (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (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 analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be 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 is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 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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