TI Trust Inc. Trims Stock Holdings in AT&T Inc. (NYSE:T)

TI Trust Inc. lowered its stake in AT&T Inc. (NYSE:T) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,999 shares of the technology company’s stock after selling 496 shares during the quarter. TI Trust Inc.’s holdings in AT&T were worth $848,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. KPP Advisory Services LLC lifted its stake in AT&T by 7.3% during the 1st quarter. KPP Advisory Services LLC now owns 143,241 shares of the technology company’s stock worth $4,051,000 after acquiring an additional 9,738 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in AT&T by 4.2% during the first quarter. Penobscot Investment Management Company Inc. now owns 45,315 shares of the technology company’s stock worth $1,282,000 after purchasing an additional 1,841 shares during the period. Flavin Financial Services Inc. acquired a new stake in shares of AT&T during the first quarter worth about $215,000. Sabal Trust CO acquired a new stake in shares of AT&T during the first quarter worth about $220,000. Finally, Salzhauer Michael purchased a new position in shares of AT&T in the first quarter valued at approximately $351,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.2%

T opened at $27.93 on Thursday. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. 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 stock has a market capitalization of $200.97 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 4.01 and a beta of 0.41. The business’s 50-day simple moving average is $27.59 and its 200-day simple moving average is $25.87.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Ratings Changes

Several brokerages recently weighed in on T. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank Of Canada upped their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.76.

About AT&T

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.