Prospect Financial Services LLC Has $481,000 Stock Holdings in AT&T Inc. (NYSE:T)

Prospect Financial Services LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,992 shares of the technology company’s stock after selling 1,570 shares during the quarter. Prospect Financial Services LLC’s holdings in AT&T were worth $481,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter worth approximately $28,000. Finally, YANKCOM Partnership acquired a new position in shares of AT&T in the fourth quarter worth approximately $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock opened at $27.76 on Friday. The firm has a market capitalization of $199.72 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The firm has a fifty day simple moving average of $27.33 and a two-hundred day simple moving average of $25.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. AT&T’s payout ratio is 68.10%.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Tigress Financial increased their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, 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 note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

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.