Twin Capital Management Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Twin Capital Management Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,750 shares of the technology company’s stock after selling 1,255 shares during the quarter. Twin Capital Management Inc.’s holdings in AT&T were worth $4,207,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $27,000. Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Finally, Core Alternative Capital raised its holdings in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.3%

T stock opened at $26.92 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market capitalization of $193.71 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42. The business has a 50-day moving average of $27.74 and a 200-day moving average of $26.47. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19.

AT&T (NYSE:T) last posted its quarterly 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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T’s dividend payout ratio is currently 68.10%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, TD Securities raised their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from 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.