Silvercrest Asset Management Group LLC Trims Position in AT&T Inc. (NYSE:T)

Silvercrest Asset Management Group LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,559 shares of the technology company’s stock after selling 6,728 shares during the period. Silvercrest Asset Management Group LLC’s holdings in AT&T were worth $1,295,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new position in AT&T during the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter worth approximately $25,000. First Pacific Financial raised its stake in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the period. HighMark Wealth Management LLC raised its stake in AT&T by 58.2% during the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after purchasing an additional 811 shares during the period. Finally, ESL Trust Services LLC purchased a new position in AT&T during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Barclays increased their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $22.33.

AT&T Price Performance

T opened at $18.98 on Wednesday. The company has a fifty day simple moving average of $18.38 and a 200 day simple moving average of $17.51. The firm has a market cap of $136.09 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 3.18 and a beta of 0.58. AT&T Inc. has a twelve month low of $13.89 and a twelve month high of $19.74. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Wednesday, July 10th. AT&T’s 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.