AT&T Inc. $T Holdings Trimmed by Bruce & Co. Inc.

Bruce & Co. Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,000 shares of the technology company’s stock after selling 100,000 shares during the quarter. AT&T makes up approximately 6.1% of Bruce & Co. Inc.’s investment portfolio, making the stock its 6th largest position. Bruce & Co. Inc.’s holdings in AT&T were worth $19,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. United Asset Strategies Inc. lifted its holdings in AT&T by 105.1% during the 1st quarter. United Asset Strategies Inc. now owns 22,503 shares of the technology company’s stock valued at $636,000 after buying an additional 11,532 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in AT&T by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company’s stock worth $973,833,000 after acquiring an additional 8,355,686 shares in the last quarter. Luts & Greenleigh Group Inc. increased its position in shares of AT&T by 19.6% during the first quarter. Luts & Greenleigh Group Inc. now owns 20,225 shares of the technology company’s stock worth $572,000 after acquiring an additional 3,320 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of AT&T by 9.8% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 53,337 shares of the technology company’s stock valued at $1,508,000 after acquiring an additional 4,770 shares in the last quarter. Finally, GM Advisory Group LLC boosted its holdings in shares of AT&T by 281.5% in the first quarter. GM Advisory Group LLC now owns 114,825 shares of the technology company’s stock valued at $3,247,000 after purchasing an additional 84,723 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Royal Bank Of Canada increased their price target on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $30.21.

AT&T Price Performance

Shares of T stock opened at $29.2660 on Thursday. AT&T Inc. has a 1-year low of $19.40 and a 1-year high of $29.38. The stock’s 50-day moving average is $27.96 and its 200 day moving average is $27.29. The company has a market cap of $209.26 billion, a P/E ratio of 16.63, a PEG ratio of 3.58 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last announced its earnings results 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 business had revenue of $30.85 billion during 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%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given 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 3.8%. AT&T’s dividend payout ratio is presently 63.07%.

AT&T Company 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.