First Affirmative Financial Network Cuts Stock Position in AT&T Inc. (NYSE:T)

First Affirmative Financial Network lessened its stake in shares of AT&T Inc. (NYSE:T) by 17.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,751 shares of the technology company’s stock after selling 2,984 shares during the quarter. First Affirmative Financial Network’s holdings in AT&T were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Consolidated Planning Corp raised its position in AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Keystone Financial Group grew its holdings in AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after purchasing an additional 143,744 shares during the last quarter. World Investment Advisors grew its holdings in AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after purchasing an additional 63,359 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in shares of AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares during the last quarter. Finally, Fortress Financial Solutions LLC acquired a new stake in shares of AT&T during the fourth quarter valued at $691,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Monday, April 7th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Barclays lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Royal Bank of Canada lifted their price objective on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Price Performance

T stock opened at $28.09 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The stock’s 50 day moving average is $27.32 and its two-hundred day moving average is $25.45. The company has a market capitalization of $202.12 billion, a PE ratio of 18.85, a P/E/G ratio of 3.00 and a beta of 0.41.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors 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 dividend on an annualized basis and a yield of 3.95%. AT&T’s dividend payout ratio is currently 68.10%.

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.