Mission Creek Capital Partners Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T – Get Rating) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,425 shares of the technology company’s stock after selling 1,717 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in AT&T were worth $294,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in AT&T by 2.3% during the first quarter. Vanguard Group Inc. now owns 585,666,367 shares of the technology company’s stock worth $13,839,297,000 after buying an additional 13,066,523 shares during the last quarter. BlackRock Inc. boosted its holdings in AT&T by 1.1% during the first quarter. BlackRock Inc. now owns 521,448,502 shares of the technology company’s stock valued at $12,321,826,000 after acquiring an additional 5,777,961 shares during the period. State Street Corp boosted its holdings in AT&T by 3.8% during the fourth quarter. State Street Corp now owns 317,213,113 shares of the technology company’s stock valued at $7,803,443,000 after acquiring an additional 11,494,986 shares during the period. Newport Trust Co boosted its holdings in AT&T by 1.9% during the first quarter. Newport Trust Co now owns 197,426,152 shares of the technology company’s stock valued at $4,665,180,000 after acquiring an additional 3,722,782 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 123,218,974 shares of the technology company’s stock valued at $3,023,357,000 after acquiring an additional 1,913,245 shares during the period. 52.88% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
T has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of AT&T to $22.00 in a report on Friday, July 22nd. Barclays cut shares of AT&T from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a report on Friday, July 22nd. Tigress Financial decreased their price target on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Truist Financial reduced their target price on shares of AT&T to $21.00 in a research note on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.78.
AT&T Stock Performance
AT&T (NYSE:T – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $29.64 billion during the quarter, compared to analyst estimates of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.
AT&T Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Friday, July 8th. AT&T’s payout ratio is 40.81%.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its 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.
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