Safe Harbor Fiduciary LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Safe Harbor Fiduciary LLC decreased its holdings in AT&T Inc. (NYSE:T) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,137 shares of the technology company’s stock after selling 438 shares during the quarter. Safe Harbor Fiduciary LLC’s holdings in AT&T were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Consolidated Planning Corp lifted its holdings in AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group raised its position in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after buying an additional 143,744 shares during the last quarter. World Investment Advisors raised its position in shares of AT&T by 36.4% during the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $691,000. Finally, DigitalBridge Group Inc. raised its position in shares of AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on T. Royal Bank of Canada lifted their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. TD Securities lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.71.

AT&T Stock Up 1.4%

Shares of T opened at $27.72 on Friday. The firm has a market capitalization of $199.43 billion, a P/E ratio of 18.60, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average price of $27.18 and a 200-day moving average price of $24.90.

AT&T (NYSE:T) last issued 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 company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

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.