Hartford Financial Management Inc. Reduces Stock Position in AT&T Inc. (NYSE:T)

Hartford Financial Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,570 shares of the technology company’s stock after selling 487 shares during the quarter. Hartford Financial Management Inc.’s holdings in AT&T were worth $158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC increased its holdings in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 0.0%

Shares of T stock opened at $27.65 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $17.90 and a 1 year high of $29.03. The stock has a fifty day moving average of $27.49 and a two-hundred day moving average of $25.72. The firm has a market capitalization of $198.92 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect 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 issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. AT&T’s dividend payout ratio (DPR) is 68.10%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on T. UBS Group boosted their price target on AT&T from $30.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI boosted their price target on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Scotiabank reiterated an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. TD Securities boosted their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, Royal Bank Of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

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.