Smart Money Group LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 67.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,430 shares of the technology company’s stock after selling 15,156 shares during the period. Smart Money Group LLC’s holdings in AT&T were worth $367,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Candriam Luxembourg S.C.A. increased its position in AT&T by 13.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 1,385,144 shares of the technology company’s stock worth $54,132,000 after buying an additional 160,538 shares during the period. Sadoff Investment Management LLC increased its position in AT&T by 2.1% during the fourth quarter. Sadoff Investment Management LLC now owns 288,826 shares of the technology company’s stock worth $11,287,000 after acquiring an additional 5,850 shares during the period. Jacobs & Co. CA raised its stake in AT&T by 2.1% in the 4th quarter. Jacobs & Co. CA now owns 222,950 shares of the technology company’s stock worth $8,712,000 after purchasing an additional 4,629 shares in the last quarter. Brookstone Capital Management boosted its holdings in AT&T by 8.6% in the 4th quarter. Brookstone Capital Management now owns 185,921 shares of the technology company’s stock valued at $7,266,000 after purchasing an additional 14,673 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in shares of AT&T during the 4th quarter worth approximately $4,265,000. Hedge funds and other institutional investors own 53.84% of the company’s stock.
Several equities research analysts recently issued reports on the company. Credit Suisse Group cut their price target on AT&T from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Guggenheim cut their target price on AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Cfra decreased their price target on AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a research report on Wednesday, May 27th. Finally, Robert W. Baird lowered shares of AT&T from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $41.00 to $33.00 in a report on Monday, March 23rd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.02.
AT&T stock traded down $0.16 during trading hours on Tuesday, hitting $30.77. The stock had a trading volume of 17,321,593 shares, compared to its average volume of 34,408,444. The business’s 50 day simple moving average is $29.97 and its 200-day simple moving average is $34.92. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The stock has a market cap of $222.07 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.70 and a beta of 0.72. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The business had revenue of $42.78 billion during the quarter, compared to the consensus estimate of $44.75 billion. During the same quarter last year, the business earned $0.86 EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 3.29 EPS for the current fiscal year.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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