AT&T Inc. (NYSE:T) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC lessened its holdings in AT&T Inc. (NYSE:T) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,271 shares of the technology company’s stock after selling 4,018 shares during the period. Ironwood Investment Counsel LLC’s holdings in AT&T were worth $2,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in T. Keystone Financial Group lifted its position in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after purchasing an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC acquired a new stake in AT&T in the first quarter worth approximately $201,000. DigitalBridge Group Inc. grew its stake in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after acquiring an additional 102,419 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Tigress Financial raised their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.66.

AT&T Stock Down 1.1%

T opened at $27.47 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The business has a 50 day moving average price of $27.81 and a 200 day moving average price of $26.93. The firm has a market cap of $196.45 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 3.44 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.97 and a twelve month high of $29.19.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

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.