Bfsg LLC Sells 1,497 Shares of AT&T Inc. (NYSE:T)

Bfsg LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,341 shares of the technology company’s stock after selling 1,497 shares during the period. AT&T accounts for approximately 1.0% of Bfsg LLC’s holdings, making the stock its 27th biggest position. Bfsg LLC’s holdings in AT&T were worth $7,815,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in AT&T in the 4th quarter valued at $1,858,418,000. GQG Partners LLC boosted its holdings in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Northern Trust Corp boosted its holdings in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Finally, Assetmark Inc. boosted its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Scotiabank reissued an “outperform” rating on shares of AT&T in a report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Barclays increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Wells Fargo & Company increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Down 0.9%

NYSE T opened at $27.95 on Tuesday. 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 1-year low of $17.49 and a 1-year high of $29.03. The company has a 50 day moving average of $27.44 and a 200-day moving average of $25.69. The company has a market cap of $201.08 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last announced its quarterly earnings data 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 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T’s dividend payout ratio is currently 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.