Homrich & Berg Has $22.50 Million Position in AT&T Inc. (NYSE:T)

Homrich & Berg cut its position in AT&T Inc. (NYSE:T) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 743,190 shares of the technology company’s stock after selling 41,918 shares during the period. AT&T accounts for about 0.6% of Homrich & Berg’s investment portfolio, making the stock its 19th biggest position. Homrich & Berg’s holdings in AT&T were worth $22,496,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Corundum Group Inc. increased its stake in shares of AT&T by 2.2% in the 1st quarter. Corundum Group Inc. now owns 14,753 shares of the technology company’s stock valued at $447,000 after acquiring an additional 313 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in AT&T by 11.3% in the 1st quarter. Alpha DNA Investment Management LLC now owns 3,088 shares of the technology company’s stock valued at $93,000 after purchasing an additional 314 shares during the period. Halbert Hargrove Global Advisors LLC grew its position in AT&T by 3.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 11,147 shares of the technology company’s stock valued at $337,000 after purchasing an additional 320 shares during the period. First National Corp MA ADV grew its position in AT&T by 1.7% in the 1st quarter. First National Corp MA ADV now owns 19,283 shares of the technology company’s stock valued at $584,000 after purchasing an additional 323 shares during the period. Finally, Roble Belko & Company Inc boosted its holdings in AT&T by 21.7% during the 1st quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock worth $55,000 after acquiring an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 50.40% of the company’s stock.

Shares of NYSE:T traded down $0.05 on Thursday, hitting $27.85. 638,937 shares of the company traded hands, compared to its average volume of 30,837,840. AT&T Inc. has a 52 week low of $26.35 and a 52 week high of $33.88. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average price of $29.14. The company has a market capitalization of $198.85 billion, a P/E ratio of -80.68, a PEG ratio of 2.76 and a beta of 0.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.08. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The firm had revenue of $43.90 billion during the quarter, compared to the consensus estimate of $42.69 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 3.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.47%. AT&T’s dividend payout ratio (DPR) is presently 65.41%.

In other AT&T news, CEO John T. Stankey acquired 34,614 shares of the company’s stock in a transaction that occurred on Wednesday, May 19th. The shares were bought at an average cost of $28.81 per share, with a total value of $997,229.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pascal Desroches bought 3,056 shares of the company’s stock in a transaction on Wednesday, May 19th. The stock was purchased at an average cost of $29.06 per share, for a total transaction of $88,807.36. Following the completion of the transaction, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.

A number of research firms have issued reports on T. Redburn Partners began coverage on shares of AT&T in a report on Friday, June 25th. They set a “sell” rating and a $23.00 price objective on the stock. Barclays boosted their price target on shares of AT&T from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Raymond James boosted their price target on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. Scotiabank upgraded AT&T from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the company from $28.00 to $31.00 in a research note on Wednesday, June 16th. Finally, UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $35.00 in a research note on Friday, May 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.39.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Featured Article: What does an equal weight rating mean?

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.