AT&T Inc. (NYSE:T) Shares Sold by Gen Wealth Partners Inc

Gen Wealth Partners Inc lowered its position in shares of AT&T Inc. (NYSE:T) by 19.1% in the first quarter, Holdings Channel reports. The institutional investor owned 3,124 shares of the technology company’s stock after selling 739 shares during the quarter. Gen Wealth Partners Inc’s holdings in AT&T were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new stake in AT&T in the 1st quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its holdings in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 last quarter. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Northern Trust Corp increased 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 last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on T. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $30.21.

AT&T Price Performance

AT&T stock opened at $28.89 on Friday. The stock has a market cap of $206.57 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42. The company has a fifty day simple moving average of $27.90 and a 200-day simple moving average of $27.19. AT&T Inc. has a 12-month low of $19.08 and a 12-month high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is 63.07%.

AT&T Company 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.