Keynote Financial Services LLC Sells 841 Shares of AT&T Inc. (NYSE:T)

Keynote Financial Services LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 0.7% during the first quarter, HoldingsChannel reports. The fund owned 114,677 shares of the technology company’s stock after selling 841 shares during the quarter. AT&T comprises 2.3% of Keynote Financial Services LLC’s holdings, making the stock its 7th biggest position. Keynote Financial Services LLC’s holdings in AT&T were worth $3,243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keystone Financial Group grew its position in 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 buying an additional 143,744 shares during the period. Capstone Wealth Management LLC acquired a new position in AT&T during the first quarter worth about $201,000. DigitalBridge Group Inc. grew its position in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after buying an additional 365,776 shares during the period. Wedmont Private Capital grew its position in AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after buying an additional 9,027 shares during the period. Finally, Xponance Inc. grew its position in AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after buying an additional 102,419 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 1.1%

Shares of NYSE T opened at $27.47 on Thursday. AT&T Inc. has a 1 year low of $18.97 and a 1 year high of $29.19. The firm’s 50 day moving average price is $27.81 and its 200 day moving average price is $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. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, sell-side analysts anticipate 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 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 of this dividend 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 currently 63.07%.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. UBS Group reaffirmed a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned 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 an average target price of $29.66.

AT&T 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.