Richard Bernstein Advisors LLC Sells 7,805 Shares of AT&T Inc. (NYSE:T)

Richard Bernstein Advisors LLC trimmed its stake in AT&T Inc. (NYSE:T) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,097 shares of the technology company’s stock after selling 7,805 shares during the period. Richard Bernstein Advisors LLC’s holdings in AT&T were worth $4,330,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Callan Capital LLC grew its holdings in shares of AT&T by 13.0% during the first quarter. Callan Capital LLC now owns 32,988 shares of the technology company’s stock valued at $933,000 after buying an additional 3,797 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of AT&T by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,998,517 shares of the technology company’s stock worth $367,598,000 after purchasing an additional 651,813 shares in the last quarter. Traveka Wealth LLC boosted its position in shares of AT&T by 4.5% during the first quarter. Traveka Wealth LLC now owns 11,088 shares of the technology company’s stock valued at $314,000 after buying an additional 478 shares during the last quarter. Tradewinds LLC. lifted its stake in AT&T by 5.3% during the 1st quarter. Tradewinds LLC. now owns 36,776 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 1,837 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in shares of AT&T in the first quarter worth approximately $54,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $28.33 on Monday. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The firm has a market capitalization of $203.82 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The company has a 50 day moving average price of $27.79 and a 200 day moving average price of $26.17.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Barclays upped their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. TD Securities raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

AT&T 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.