Private Advisor Group LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Private Advisor Group LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 692,161 shares of the technology company’s stock after selling 11,250 shares during the quarter. Private Advisor Group LLC’s holdings in AT&T were worth $12,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. J.W. Cole Advisors Inc. lifted its holdings in shares of AT&T by 1.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 372,724 shares of the technology company’s stock worth $6,559,000 after acquiring an additional 5,079 shares during the last quarter. Hartline Investment Corp bought a new stake in shares of AT&T in the 1st quarter worth approximately $459,000. Norden Group LLC lifted its holdings in shares of AT&T by 49.1% in the 1st quarter. Norden Group LLC now owns 68,267 shares of the technology company’s stock worth $1,201,000 after acquiring an additional 22,477 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of AT&T by 17.0% in the 1st quarter. Van ECK Associates Corp now owns 371,841 shares of the technology company’s stock worth $6,544,000 after acquiring an additional 54,078 shares during the last quarter. Finally, Fortis Group Advisors LLC lifted its holdings in shares of AT&T by 27.9% in the 1st quarter. Fortis Group Advisors LLC now owns 61,222 shares of the technology company’s stock worth $1,078,000 after acquiring an additional 13,340 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. Finally, Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.73.

AT&T Stock Up 0.5 %

AT&T stock traded up $0.09 during mid-day trading on Friday, reaching $18.77. The stock had a trading volume of 30,727,771 shares, compared to its average volume of 31,550,982. The company has a market capitalization of $134.58 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 4.24 and a beta of 0.58. The company has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $17.25. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.