Bard Financial Services Inc. Sells 2,095 Shares of AT&T Inc. (NYSE:T)

Bard Financial Services Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,080 shares of the technology company’s stock after selling 2,095 shares during the period. Bard Financial Services Inc.’s holdings in AT&T were worth $6,507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of T. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after buying an additional 430 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. Evercore ISI increased their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Wells Fargo & Company 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 Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Finally, Oppenheimer increased their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Up 2.0%

AT&T stock opened at $28.42 on Wednesday. The company has a market cap of $204.46 billion, a P/E ratio of 19.07, a price-to-earnings-growth 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 fifty day simple moving average of $27.31 and a 200 day simple moving average of $25.54. 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 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). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

AT&T 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.