Griffin Asset Management Inc. Has $3.10 Million Position in AT&T Inc. (NYSE:T)

Griffin Asset Management Inc. reduced its stake in AT&T Inc. (NYSE:T) by 6.1% in the 1st quarter, Holdings Channel reports. The firm owned 109,701 shares of the technology company’s stock after selling 7,117 shares during the period. Griffin Asset Management Inc.’s holdings in AT&T were worth $3,102,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of T. Next Level Private LLC lifted its holdings in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after buying an additional 384 shares during the period. Kozak & Associates Inc. increased its holdings in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after buying an additional 398 shares during the period. Firethorn Wealth Partners LLC increased its holdings in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after buying an additional 399 shares during the period. Finally, Charter Oak Capital Management LLC boosted its stake in AT&T by 2.7% in the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock valued at $431,000 after acquiring an additional 408 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

T has been the subject of several recent analyst reports. Williams Trading set a $30.00 target price on shares of AT&T in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Royal Bank of Canada upped their price objective 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. JPMorgan Chase & Co. upped 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. Finally, Oppenheimer upped their price target 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. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Performance

NYSE:T opened at $28.13 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $202.43 billion, a P/E ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The company has a 50 day moving average price of $27.41 and a 200 day moving average price of $25.63. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03.

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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is currently 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.