BCS Wealth Management Reduces Holdings in AT&T Inc. (NYSE:T)

BCS Wealth Management decreased its position in AT&T Inc. (NYSE:T) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,958 shares of the technology company’s stock after selling 466 shares during the period. BCS Wealth Management’s holdings in AT&T were worth $1,356,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in T. Greenspring Advisors LLC purchased a new position in shares of AT&T during the 1st quarter worth approximately $205,000. Miracle Mile Advisors LLC boosted its position in shares of AT&T by 8.2% during the 1st quarter. Miracle Mile Advisors LLC now owns 37,968 shares of the technology company’s stock worth $1,074,000 after purchasing an additional 2,890 shares during the period. Charter Oak Capital Management LLC boosted its position in shares of AT&T by 2.7% during the 1st quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after purchasing an additional 408 shares during the period. Wedmont Private Capital boosted its position in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 9,027 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of AT&T by 1.9% during the 1st quarter. UMB Bank n.a. now owns 179,776 shares of the technology company’s stock worth $5,084,000 after purchasing an additional 3,266 shares during the period. 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 $25.47. 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) 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 disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

A number of research firms recently weighed in on T. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Oppenheimer increased their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada increased their target price 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. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Finally, Barclays increased their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

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.