Premier Fund Managers Ltd Has $9.68 Million Stock Position in AT&T Inc. (NYSE:T)

Premier Fund Managers Ltd lowered its position in shares of AT&T Inc. (NYSE:T) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,000 shares of the technology company’s stock after selling 110,100 shares during the quarter. Premier Fund Managers Ltd’s holdings in AT&T were worth $9,677,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC boosted its stake in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in AT&T during the first quarter valued at approximately $29,000. Core Alternative Capital raised its holdings in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the period. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth approximately $25,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter worth approximately $25,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.4%

NYSE T opened at $27.61 on Tuesday. The firm has a market capitalization of $198.67 billion, a P/E ratio of 15.69, a PEG ratio of 3.49 and a beta of 0.42. The business has a fifty day simple moving average of $27.80 and a 200 day simple moving average of $26.72. AT&T Inc. has a 12 month low of $18.64 and a 12 month high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid 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 4.02%. AT&T’s payout ratio is 63.07%.

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. UBS Group reissued a “buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Barclays boosted their target price on AT&T from $27.00 to $30.00 and gave the stock 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $29.66.

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.