Hanson & Doremus Investment Management cut its holdings in AT&T Inc. (NYSE:T – Get Rating) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,336 shares of the technology company’s stock after selling 1,967 shares during the period. Hanson & Doremus Investment Management’s holdings in AT&T were worth $1,142,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of AT&T by 16.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,822,788 shares of the technology company’s stock valued at $94,041,000 after purchasing an additional 533,468 shares in the last quarter. CAPROCK Group Inc. grew its holdings in shares of AT&T by 55.2% during the 1st quarter. CAPROCK Group Inc. now owns 51,579 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 18,347 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in AT&T by 8.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company’s stock valued at $11,435,000 after buying an additional 37,205 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in AT&T by 1.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 67,128 shares of the technology company’s stock worth $1,586,000 after purchasing an additional 1,152 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in AT&T by 1.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 108,402 shares of the technology company’s stock worth $2,562,000 after acquiring an additional 1,682 shares in the last quarter. 53.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on T. Moffett Nathanson assumed coverage on shares of AT&T in a research report on Tuesday, April 5th. They issued a $19.00 target price for the company. Morgan Stanley lowered their price objective on shares of AT&T from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Wells Fargo & Company lowered their price objective on AT&T from $26.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, April 14th. Royal Bank of Canada cut their price target on shares of AT&T from $30.00 to $20.00 and set a “sector perform” rating on the stock in a report on Monday, April 25th. Finally, Raymond James decreased their target price on AT&T from $32.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 12th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $24.56.
AT&T (NYSE:T – Get Rating) last announced its earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). AT&T had a return on equity of 13.19% and a net margin of 10.64%. The business had revenue of $38.10 billion for the quarter, compared to analyst estimates of $38.29 billion. During the same quarter last year, the company posted $0.86 EPS. AT&T’s quarterly revenue was down 13.2% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 11th will be paid a $0.2775 dividend. The ex-dividend date is Friday, July 8th. This represents a $1.11 annualized dividend and a yield of 5.21%. AT&T’s dividend payout ratio is currently 46.84%.
About AT&T (Get Rating)
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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