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

RFG Advisory LLC reduced its stake in AT&T Inc. (NYSE:T) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,730 shares of the technology company’s stock after selling 2,887 shares during the period. RFG Advisory LLC’s holdings in AT&T were worth $1,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of AT&T by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after buying an additional 2,155,232 shares during the last quarter. Norges Bank purchased a new position in shares of AT&T during the fourth quarter valued at approximately $1,118,288,000. Ameriprise Financial Inc. lifted its position in AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in AT&T by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in AT&T by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after purchasing an additional 1,137,792 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T stock opened at $18.40 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.45. The business has a 50-day moving average price of $17.32 and a 200 day moving average price of $17.11. The company has a market capitalization of $131.93 billion, a P/E ratio of 9.89, a PEG ratio of 3.56 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.03%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on T shares. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

AT&T Company Profile

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.