Sanders Morris Harris LLC Has $1.48 Million Stock Position in AT&T Inc. (NYSE:T)

Sanders Morris Harris LLC reduced its position in AT&T Inc. (NYSE:T) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,160 shares of the technology company’s stock after selling 2,000 shares during the period. Sanders Morris Harris LLC’s holdings in AT&T were worth $1,483,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $27,000. Marshall Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $28,000. Finally, YANKCOM Partnership acquired a new stake in shares of AT&T in the fourth quarter worth $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.3%

Shares of NYSE:T opened at $27.73 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $199.53 billion, a PE ratio of 18.61, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The firm has a fifty day moving average price of $27.36 and a 200 day moving average price of $25.29.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. Analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. AT&T’s payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Monday, April 7th. Royal Bank of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.