Parallel Advisors LLC Reduces Position in AT&T Inc. (NYSE:T)

Parallel Advisors LLC decreased its position in AT&T Inc. (NYSE:T) by 1.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 161,187 shares of the technology company’s stock after selling 2,263 shares during the period. Parallel Advisors LLC’s holdings in AT&T were worth $4,558,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Consolidated Planning Corp boosted its position in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group boosted its holdings in shares of AT&T by 196.3% during 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 in the last quarter. World Investment Advisors grew its position 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 buying an additional 63,359 shares during the period. Fortress Financial Solutions LLC bought a new position in shares of AT&T in the 4th quarter worth about $691,000. Finally, DigitalBridge Group Inc. lifted its position in AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on T shares. 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 report on Thursday, April 24th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

Shares of NYSE:T opened at $27.73 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. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The firm has a market capitalization of $199.53 billion, a PE ratio of 18.61, a P/E/G ratio of 3.00 and a beta of 0.42. The business’s 50 day moving average price is $27.36 and its 200-day moving average price is $25.27.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period last year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect 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 was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio 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.