AT&T Inc. (NYSE:T) Shares Sold by Ascent Group LLC

Ascent Group LLC reduced its stake in AT&T Inc. (NYSE:T) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,891 shares of the technology company’s stock after selling 1,239 shares during the period. Ascent Group LLC’s holdings in AT&T were worth $2,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC boosted its stake in AT&T by 5.7% in the first quarter. Mount Yale Investment Advisors LLC now owns 31,387 shares of the technology company’s stock valued at $552,000 after acquiring an additional 1,687 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of AT&T by 3.7% during the first quarter. Beaird Harris Wealth Management LLC now owns 34,872 shares of the technology company’s stock worth $614,000 after buying an additional 1,240 shares during the period. NWI Management LP boosted its position in shares of AT&T by 80.0% during the first quarter. NWI Management LP now owns 900,000 shares of the technology company’s stock worth $15,840,000 after buying an additional 400,000 shares during the period. Kestra Advisory Services LLC boosted its position in shares of AT&T by 11.7% during the first quarter. Kestra Advisory Services LLC now owns 1,193,067 shares of the technology company’s stock worth $20,998,000 after buying an additional 125,074 shares during the period. Finally, Steel Grove Capital Advisors LLC boosted its position in shares of AT&T by 195.6% during the first quarter. Steel Grove Capital Advisors LLC now owns 107,839 shares of the technology company’s stock worth $1,898,000 after buying an additional 71,352 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Oppenheimer boosted their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Down 0.6 %

Shares of AT&T stock traded down $0.11 on Monday, hitting $18.90. 30,779,270 shares of the company traded hands, compared to its average volume of 36,768,941. The company has a 50-day moving average price of $18.32 and a 200 day moving average price of $17.47. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $13.89 and a 12-month high of $19.74. The company has a market cap of $135.52 billion, a PE ratio of 10.17, a PEG ratio of 3.22 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the company posted $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 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.