First Affirmative Financial Network Trims Stock Holdings in AT&T Inc. (NYSE:T)

First Affirmative Financial Network reduced its stake in AT&T Inc. (NYSE:T) by 17.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,751 shares of the technology company’s stock after selling 2,984 shares during the period. First Affirmative Financial Network’s holdings in AT&T were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Next Level Private LLC increased its stake in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC increased its stake in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares during the period. Firethorn Wealth Partners LLC increased its stake in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after purchasing an additional 399 shares during the period. Buska Wealth Management LLC grew its position in shares of AT&T by 3.2% during the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock worth $305,000 after buying an additional 412 shares in the last quarter. Finally, Beacon Financial Group grew its position in shares of AT&T by 2.9% during the first quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock worth $424,000 after buying an additional 417 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $28.09 on Friday. 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 twelve month low of $17.42 and a twelve month high of $29.03. The stock has a 50 day moving average of $27.32 and a two-hundred day moving average of $25.45. The stock has a market cap of $202.12 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.00 and a beta of 0.41.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on T shares. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Tigress Financial boosted their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T 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.