Impact Partnership Wealth LLC Has $909,000 Holdings in AT&T Inc. (NYSE:T)

Impact Partnership Wealth LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 40.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,148 shares of the technology company’s stock after selling 21,993 shares during the quarter. Impact Partnership Wealth LLC’s holdings in AT&T were worth $909,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth about $1,858,418,000. GQG Partners LLC increased its position in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AT&T by 31.8% during the 4th 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 buying an additional 12,881,578 shares in the last quarter. Northern Trust Corp increased its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AT&T by 18.2% in the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $26.92 on Friday. 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 52 week low of $18.14 and a 52 week high of $29.19. The stock has a market capitalization of $193.71 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. The stock has a fifty day moving average of $27.74 and a 200-day moving average of $26.44.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on T. Oppenheimer lifted their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Royal Bank Of Canada increased their target price on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. UBS Group reaffirmed a “buy” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Barclays raised their price target 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

About AT&T

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.