Armbruster Capital Management Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 4.9% during the first quarter, Holdings Channel reports. The institutional investor owned 10,674 shares of the technology company’s stock after selling 550 shares during the period. Armbruster Capital Management Inc.’s holdings in AT&T were worth $444,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in T. Thomaspartners Inc. boosted its position in AT&T by 9.0% in the first quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock worth $237,371,000 after buying an additional 470,906 shares during the last quarter. Allegis Investment Advisors LLC boosted its position in AT&T by 8.9% in the first quarter. Allegis Investment Advisors LLC now owns 98,416 shares of the technology company’s stock worth $4,089,000 after buying an additional 8,065 shares during the last quarter. Destination Wealth Management boosted its position in AT&T by 6.6% in the first quarter. Destination Wealth Management now owns 314,204 shares of the technology company’s stock worth $13,055,000 after buying an additional 19,580 shares during the last quarter. Lbmc Investment Advisors LLC boosted its position in AT&T by 1.6% in the first quarter. Lbmc Investment Advisors LLC now owns 10,975 shares of the technology company’s stock worth $456,000 after buying an additional 169 shares during the last quarter. Finally, Haverford Trust Co. boosted its position in AT&T by 0.9% in the first quarter. Haverford Trust Co. now owns 175,557 shares of the technology company’s stock worth $7,294,000 after buying an additional 1,536 shares during the last quarter. 55.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of AT&T Inc. (T) opened at 38.27 on Thursday. AT&T Inc. has a 52 week low of $35.81 and a 52 week high of $43.48. The stock’s 50 day moving average is $37.65 and its 200-day moving average is $39.78. The firm has a market cap of $234.98 billion, a PE ratio of 18.06 and a beta of 0.47.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post $2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is presently 92.45%.
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Several research analysts have issued reports on T shares. Vetr upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $39.93 target price on the stock in a report on Wednesday, May 24th. Barclays PLC dropped their target price on shares of AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, July 14th. Argus reiterated a “buy” rating and set a $51.00 target price on shares of AT&T in a report on Monday, April 10th. Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 target price on shares of AT&T in a report on Sunday, July 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $43.40.
About AT&T
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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