Heritage Wealth Partners LLC Sells 3,258 Shares of AT&T Inc. $T

Heritage Wealth Partners LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,842 shares of the technology company’s stock after selling 3,258 shares during the quarter. Heritage Wealth Partners LLC’s holdings in AT&T were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares in the last quarter. GQG Partners LLC boosted its holdings in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Northern Trust Corp boosted its holdings in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AT&T by 31.8% in the fourth 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. UBS Group reaffirmed a “buy” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $30.21.

AT&T Trading Down 2.4%

AT&T stock opened at $28.7290 on Friday. AT&T Inc. has a 52 week low of $19.51 and a 52 week high of $29.65. The company has a market capitalization of $205.42 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.64 and a beta of 0.42. The stock has a 50-day moving average price of $27.99 and a 200 day moving average price of $27.36. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued 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 3.9%. AT&T’s payout ratio is presently 63.07%.

AT&T 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.