AT&T Inc. (NYSE:T) Shares Sold by Main Street Group LTD

Main Street Group LTD trimmed its holdings in AT&T Inc. (NYSE:T) by 18.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,206 shares of the technology company’s stock after selling 3,992 shares during the period. Main Street Group LTD’s holdings in AT&T were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fiduciary Alliance LLC lifted its holdings in AT&T by 259.7% in the 4th quarter. Fiduciary Alliance LLC now owns 71,666 shares of the technology company’s stock valued at $1,632,000 after purchasing an additional 51,742 shares in the last quarter. Cooper Financial Group raised its position in shares of AT&T by 14.5% in the fourth quarter. Cooper Financial Group now owns 22,223 shares of the technology company’s stock valued at $506,000 after buying an additional 2,813 shares during the last quarter. Bar Harbor Wealth Management lifted its stake in shares of AT&T by 3.1% during the fourth quarter. Bar Harbor Wealth Management now owns 32,841 shares of the technology company’s stock valued at $748,000 after buying an additional 1,001 shares during the period. Pallas Capital Advisors LLC lifted its stake in shares of AT&T by 8.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 60,994 shares of the technology company’s stock valued at $1,389,000 after buying an additional 4,784 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in AT&T by 4,346.7% during the fourth quarter. FNY Investment Advisers LLC now owns 13,340 shares of the technology company’s stock worth $303,000 after acquiring an additional 13,040 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on T shares. JPMorgan Chase & Co. boosted their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. TD Securities lifted their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Price Performance

Shares of T stock opened at $26.43 on Wednesday. The firm has a fifty day moving average of $27.16 and a two-hundred day moving average of $24.81. The firm has a market cap of $190.18 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1-year low of $17.11 and a 1-year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.20%. AT&T’s dividend payout ratio (DPR) is 68.10%.

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.