Edge Capital Group LLC Sells 1,613 Shares of AT&T Inc. (NYSE:T)

Edge Capital Group LLC lessened its position in AT&T Inc. (NYSE:TFree Report) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,127 shares of the technology company’s stock after selling 1,613 shares during the quarter. Edge Capital Group LLC’s holdings in AT&T were worth $170,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Ramirez Asset Management Inc. bought a new stake in AT&T during the 3rd quarter valued at about $30,000. Western Pacific Wealth Management LP bought a new stake in AT&T during the 4th quarter valued at about $39,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in AT&T by 588.2% during the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after buying an additional 2,241 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its position in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.9 %

T stock opened at $18.36 on Wednesday. The firm has a 50 day moving average of $17.13 and a 200 day moving average of $16.97. The stock has a market capitalization of $131.64 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.36.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.05%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

A number of research analysts have commented on T shares. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.81.

Read Our Latest Stock Report on AT&T

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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