Symphony Financial Ltd. Co. Has $1.01 Million Stock Position in AT&T Inc. (NYSE:T)

Symphony Financial Ltd. Co. lowered its holdings in shares of AT&T Inc. (NYSE:T) by 40.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 57,485 shares of the technology company’s stock after selling 38,659 shares during the period. Symphony Financial Ltd. Co.’s holdings in AT&T were worth $1,012,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T during the fourth quarter valued at $11,554,000. Provence Wealth Management Group raised its stake in AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares during the last quarter. Clearbridge Investments LLC raised its stake in AT&T by 250.3% during the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares during the last quarter. Retireful LLC bought a new position in AT&T during the fourth quarter worth $1,163,000. Finally, Brighton Jones LLC raised its stake in AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on T shares. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Oppenheimer restated an “outperform” rating and issued a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Finally, Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Stock Up 1.9 %

AT&T stock traded up $0.36 during midday trading on Friday, hitting $19.11. 52,825,162 shares of the stock were exchanged, compared to its average volume of 33,874,564. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.13. The stock has a market capitalization of $137.02 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 4.34 and a beta of 0.60. The business’s 50-day moving average price is $17.57 and its 200-day moving average price is $17.18. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

AT&T 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.