AT&T Inc. (T) Stake Lessened by Bogart Wealth LLC

Bogart Wealth LLC trimmed its position in AT&T Inc. (NYSE:T) by 65.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,672 shares of the technology company’s stock after selling 12,467 shares during the quarter. Bogart Wealth LLC’s holdings in AT&T were worth $190,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chessman Wealth Strategies RIA purchased a new stake in shares of AT&T in the third quarter valued at approximately $114,000. Stelac Advisory Services LLC purchased a new stake in shares of AT&T in the third quarter valued at approximately $121,000. Hoertkorn Richard Charles boosted its holdings in shares of AT&T by 66.7% in the third quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the period. Advocacy Wealth Management Services LLC boosted its holdings in shares of AT&T by 10.6% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 5,200 shares of the technology company’s stock valued at $148,000 after purchasing an additional 500 shares during the period. Finally, Lenox Wealth Management Inc. boosted its holdings in shares of AT&T by 184.6% in the third quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after purchasing an additional 3,742 shares during the period. 64.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of T traded down $1.31 during midday trading on Wednesday, hitting $30.79. 70,570,328 shares of the company’s stock traded hands, compared to its average volume of 31,570,416. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $35.24. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86. The firm has a market cap of $196.60 billion, a PE ratio of 8.75, a P/E/G ratio of 1.35 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm had revenue of $44.83 billion during the quarter, compared to analyst estimates of $45.20 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.51 per share. The ex-dividend date is Tuesday, April 9th. This represents a $2.04 annualized dividend and a dividend yield of 6.63%. AT&T’s dividend payout ratio is presently 57.95%.

In other news, CEO John T. Stankey sold 3,748 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

T has been the subject of a number of research reports. Desjardins reiterated an “average” rating and issued a $56.50 price target on shares of AT&T in a report on Friday, April 5th. Cowen restated a “buy” rating and set a $35.00 target price on shares of AT&T in a report on Thursday, January 31st. Barclays set a $32.00 target price on AT&T and gave the stock a “hold” rating in a report on Friday, January 18th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Friday, March 15th. They noted that the move was a valuation call. Finally, ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $36.26.

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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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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