BOS Asset Management LLC Lowers Position in AT&T Inc. $T

BOS Asset Management LLC cut its stake in AT&T Inc. (NYSE:T) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 33,590 shares of the technology company’s stock after selling 638 shares during the quarter. BOS Asset Management LLC’s holdings in AT&T were worth $950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WBI Investments LLC raised its stake in shares of AT&T by 46.7% in the first quarter. WBI Investments LLC now owns 200,917 shares of the technology company’s stock worth $5,682,000 after purchasing an additional 63,933 shares during the last quarter. Indiana Trust & Investment Management Co raised its stake in shares of AT&T by 8.3% in the first quarter. Indiana Trust & Investment Management Co now owns 9,201 shares of the technology company’s stock worth $260,000 after purchasing an additional 705 shares during the last quarter. MBL Wealth LLC purchased a new stake in shares of AT&T in the first quarter worth approximately $296,000. Reliant Investment Partners LLC raised its stake in shares of AT&T by 2.5% in the first quarter. Reliant Investment Partners LLC now owns 21,259 shares of the technology company’s stock worth $601,000 after purchasing an additional 512 shares during the last quarter. Finally, McAdam LLC raised its stake in shares of AT&T by 10.8% in the first quarter. McAdam LLC now owns 36,118 shares of the technology company’s stock worth $1,021,000 after purchasing an additional 3,509 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $29.21 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $28.26 and a two-hundred day simple moving average of $27.69. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The firm has a market cap of $208.88 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

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

AT&T Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.60.

About AT&T

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.