Logan Capital Management Inc. Trims Holdings in AT&T Inc. $T

Logan Capital Management Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 21.2% during the first quarter, HoldingsChannel.com reports. The firm owned 652,132 shares of the technology company’s stock after selling 175,193 shares during the quarter. AT&T makes up about 0.8% of Logan Capital Management Inc.’s holdings, making the stock its 27th biggest holding. Logan Capital Management Inc.’s holdings in AT&T were worth $18,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AllSquare Wealth Management LLC increased its stake in shares of AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after buying an additional 378 shares during the period. Next Level Private LLC increased its stake in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after buying an additional 379 shares during the period. Barnes Wealth Management Group Inc increased its stake in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after buying an additional 380 shares during the period. Carolinas Wealth Consulting LLC increased its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after buying an additional 384 shares during the period. Finally, Kozak & Associates Inc. increased its stake in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after buying an additional 398 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. UBS Group set a $32.00 price target on AT&T in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Price Performance

T opened at $28.91 on Tuesday. The business’s 50-day moving average is $28.23 and its two-hundred day moving average is $27.66. AT&T Inc. has a 1 year low of $20.92 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $206.68 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is presently 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.