AT&T Inc. $T Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. reduced its stake in AT&T Inc. (NYSE:T) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 228,830 shares of the technology company’s stock after selling 1,250 shares during the quarter. Bard Financial Services Inc.’s holdings in AT&T were worth $6,622,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in T. Brighton Jones LLC increased its position in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $213,000. Toronto Dominion Bank increased its position in shares of AT&T by 15.0% in the 4th quarter. Toronto Dominion Bank now owns 4,050,292 shares of the technology company’s stock valued at $92,225,000 after purchasing an additional 528,314 shares during the last quarter. Thornburg Investment Management Inc. increased its position in shares of AT&T by 2.4% in the 4th quarter. Thornburg Investment Management Inc. now owns 27,593,188 shares of the technology company’s stock valued at $628,297,000 after purchasing an additional 652,246 shares during the last quarter. Finally, Strive Asset Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $776,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on T. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. Finally, Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.60.

AT&T Stock Performance

NYSE:T opened at $29.59 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $28.31 and a two-hundred day moving average price of $27.74. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s payout ratio is 63.07%.

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.