AT&T Inc. (NYSE:T) Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC cut its position in shares of AT&T Inc. (NYSE:T) by 14.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 100,824 shares of the technology company’s stock after selling 17,192 shares during the period. Fortis Group Advisors LLC’s holdings in AT&T were worth $2,851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Finally, Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $27,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada boosted 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. Finally, TD Securities boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

AT&T Trading Down 0.3%

Shares of NYSE:T opened at $26.95 on Thursday. The stock has a market cap of $193.89 billion, a PE ratio of 16.53, a P/E/G ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $27.77 and a 200-day moving average of $26.38.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 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 company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the business earned $0.55 EPS. AT&T’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T’s dividend payout ratio (DPR) is presently 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.