Gladstone Institutional Advisory LLC Lowers Holdings in AT&T Inc. (NYSE:T)

Gladstone Institutional Advisory LLC decreased its holdings in AT&T Inc. (NYSE:T) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,702 shares of the technology company’s stock after selling 8,685 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in AT&T were worth $1,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Ontario Teachers Pension Plan Board purchased a new position in AT&T in the first quarter worth approximately $868,000. Point72 Europe London LLP purchased a new position in AT&T in the fourth quarter worth approximately $28,443,000. Great Lakes Advisors LLC lifted its stake in AT&T by 195.8% in the first quarter. Great Lakes Advisors LLC now owns 416,107 shares of the technology company’s stock worth $8,010,000 after acquiring an additional 275,431 shares during the last quarter. Hills Bank & Trust Co lifted its stake in AT&T by 147.1% in the first quarter. Hills Bank & Trust Co now owns 38,395 shares of the technology company’s stock worth $739,000 after acquiring an additional 22,854 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in AT&T by 21.9% during the first quarter. Atria Investments Inc now owns 447,498 shares of the technology company’s stock worth $8,618,000 after purchasing an additional 80,329 shares in the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $14.40 on Monday. The firm has a market capitalization of $102.95 billion, a P/E ratio of -11.80, a PEG ratio of 1.79 and a beta of 0.64. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50. The company’s fifty day moving average is $14.58 and its two-hundred day moving average is $16.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Analysts forecast that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 annualized dividend and a dividend yield of 7.71%. AT&T’s payout ratio is currently -90.98%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective on shares of AT&T in a report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Barclays cut their target price on shares of AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Finally, JPMorgan Chase & Co. cut shares of AT&T from an “overweight” rating to a “neutral” rating and cut their target price for the company from $22.00 to $17.00 in a report on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.