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

Bfsg LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,719 shares of the technology company’s stock after selling 7,355 shares during the period. Bfsg LLC’s holdings in AT&T were worth $4,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Newport Trust Company LLC increased its holdings in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after buying an additional 673,043 shares in the last quarter. Northern Trust Corp increased its holdings in AT&T by 2.5% in the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AT&T by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after buying an additional 334,222 shares in the last quarter. FMR LLC increased its holdings in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in AT&T by 185.6% in the third 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. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T traded down $0.25 during trading hours on Thursday, reaching $16.56. 15,725,351 shares of the company’s stock were exchanged, compared to its average volume of 39,029,602. The firm has a market capitalization of $118.45 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a 50-day moving average of $16.98 and a 200 day moving average of $16.54. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the business earned $0.60 EPS. The business’s revenue was down .4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.70%. AT&T’s dividend payout ratio is presently 56.63%.

Wall Street Analyst Weigh In

T has been the topic of a number of recent research reports. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $20.50.

About AT&T

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.