Fortitude Family Office LLC Sells 10,132 Shares of AT&T Inc. (NYSE:T)

Fortitude Family Office LLC cut its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,884 shares of the technology company’s stock after selling 10,132 shares during the quarter. Fortitude Family Office LLC’s holdings in AT&T were worth $1,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Consolidated Planning Corp increased its holdings in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Keystone Financial Group increased its holdings in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after purchasing an additional 143,744 shares during the last quarter. World Investment Advisors increased its holdings in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock worth $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. grew its position in AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock worth $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in AT&T in the fourth quarter worth about $691,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price target on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Wells Fargo & Company boosted their target price on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Oppenheimer boosted their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Finally, TD Securities boosted their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

View Our Latest Analysis on T

AT&T Price Performance

AT&T stock opened at $28.32 on Thursday. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The firm has a fifty day moving average of $27.35 and a 200-day moving average of $25.56. The firm has a market capitalization of $203.74 billion, a P/E ratio of 19.00, a PEG ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:TGet Free Report) last released 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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the business posted $0.55 earnings per share. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. AT&T’s payout ratio is currently 68.10%.

AT&T Company Profile

(Free Report)

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.

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

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