Arden Trust Co Sells 576 Shares of AT&T Inc. (NYSE:T)

Arden Trust Co cut its stake in shares of AT&T Inc. (NYSE:TFree Report) by 3.2% during the first quarter, reports. The fund owned 17,466 shares of the technology company’s stock after selling 576 shares during the quarter. Arden Trust Co’s holdings in AT&T were worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Norges Bank bought a new stake in AT&T during the fourth quarter valued at about $1,118,288,000. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares in the last quarter. FMR LLC grew its position in shares of AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after buying an additional 32,558,342 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in shares of AT&T during the 4th quarter worth approximately $316,472,000. Finally, Kodai Capital Management LP purchased a new stake in AT&T during the fourth quarter valued at approximately $152,109,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Finally, lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.54.

Check Out Our Latest Analysis on T

AT&T Stock Performance

T opened at $18.07 on Wednesday. The firm has a fifty day moving average price of $17.22 and a 200 day moving average price of $17.08. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.45. The stock has a market cap of $129.56 billion, a P/E ratio of 9.72, a P/E/G ratio of 3.47 and a beta of 0.60. 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:TGet Free Report) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company 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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