AT&T Inc. (NYSE:T) is MFG Wealth Management Inc.’s 2nd Largest Position

MFG Wealth Management Inc. trimmed its stake in AT&T Inc. (NYSE:T) by 18.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,588 shares of the technology company’s stock after selling 27,174 shares during the quarter. AT&T accounts for 3.2% of MFG Wealth Management Inc.’s portfolio, making the stock its 2nd biggest holding. MFG Wealth Management Inc.’s holdings in AT&T were worth $3,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $27,000. Ball & Co Wealth Management Inc. bought a new stake in AT&T in the 4th quarter worth about $30,000. Finally, REAP Financial Group LLC increased its holdings in AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after buying an additional 727 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $27.93 on Thursday. The company has a 50 day simple moving average of $27.59 and a two-hundred day simple moving average of $25.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm has a market cap of $200.97 billion, a P/E ratio of 17.13, a PEG ratio of 4.01 and a beta of 0.41. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter last year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.97%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. Royal Bank Of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. TD Securities increased their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.76.

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.