Faithward Advisors LLC Has $754,000 Position in AT&T Inc. $T

Faithward Advisors LLC lowered its position in AT&T Inc. (NYSE:T) by 7.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 26,644 shares of the technology company’s stock after selling 2,076 shares during the period. Faithward Advisors LLC’s holdings in AT&T were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in AT&T during the first quarter worth approximately $1,072,128,000. GQG Partners LLC boosted its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board boosted its position in AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP boosted its position in AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Sanford C. Bernstein upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank upped their target price on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Finally, UBS Group set a $32.00 price objective on AT&T in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Stock Down 2.3%

T opened at $28.91 on Tuesday. AT&T Inc. has a 1-year low of $20.92 and a 1-year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $206.68 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.66 and a beta of 0.44. The business has a 50 day moving average of $28.23 and a 200-day moving average of $27.66.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the business earned $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

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.