Bessemer Group Inc. Has $3.62 Million Stake in AT&T Inc. (NYSE:T)

Bessemer Group Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 60.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,055 shares of the technology company’s stock after selling 199,019 shares during the period. Bessemer Group Inc.’s holdings in AT&T were worth $3,621,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of T. Brighton Jones LLC lifted its position in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Whipplewood Advisors LLC bought a new stake in AT&T during the 4th quarter valued at $71,000. NewEdge Wealth LLC increased its stake in AT&T by 9.7% during the 4th quarter. NewEdge Wealth LLC now owns 73,864 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 6,553 shares in the last quarter. Proficio Capital Partners LLC increased its stake in AT&T by 2,552.6% during the 4th quarter. Proficio Capital Partners LLC now owns 546,517 shares of the technology company’s stock valued at $12,444,000 after purchasing an additional 525,914 shares in the last quarter. Finally, Versor Investments LP bought a new stake in AT&T during the 4th quarter valued at $381,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on T shares. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Tigress Financial boosted their price target on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. UBS Group restated a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.76.

AT&T Price Performance

T opened at $28.08 on Friday. The firm has a market cap of $202.02 billion, a P/E ratio of 17.22, a PEG ratio of 3.97 and a beta of 0.41. The firm has a 50-day moving average of $27.63 and a 200 day moving average of $25.94. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T’s payout ratio is currently 68.10%.

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.