AT&T Inc. (NYSE:T) Stake Cut by Courier Capital LLC

Courier Capital LLC cut its position in shares of AT&T Inc. (NYSE:T) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 63,740 shares of the technology company’s stock after selling 1,210 shares during the period. Courier Capital LLC’s holdings in AT&T were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of AT&T during the fourth quarter valued at about $1,858,418,000. GQG Partners LLC raised its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares in the last quarter. Northern Trust Corp raised its stake in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.7%

Shares of T opened at $27.88 on Tuesday. The business’s 50-day moving average price is $27.32 and its 200 day moving average price is $25.52. The stock has a market capitalization of $200.58 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 1-year low of $17.42 and a 1-year high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly 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). The company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.98%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Barclays lifted 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 Friday, April 25th. Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, April 24th. Finally, Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

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.