Bahl & Gaynor Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Bahl & Gaynor Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 6.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 35,782 shares of the technology company’s stock after selling 2,423 shares during the period. Bahl & Gaynor Inc.’s holdings in AT&T were worth $600,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in AT&T by 33.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after purchasing an additional 10,758 shares in the last quarter. Walkner Condon Financial Advisors LLC bought a new position in AT&T during the third quarter valued at approximately $438,000. Uncommon Cents Investing LLC boosted its stake in AT&T by 13.6% during the third quarter. Uncommon Cents Investing LLC now owns 25,388 shares of the technology company’s stock valued at $381,000 after buying an additional 3,039 shares during the last quarter. Evanson Asset Management LLC grew its holdings in AT&T by 6.5% during the 3rd quarter. Evanson Asset Management LLC now owns 21,031 shares of the technology company’s stock valued at $316,000 after buying an additional 1,285 shares in the last quarter. Finally, Charles Schwab Trust Co bought a new stake in AT&T in the 3rd quarter worth approximately $200,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Scotiabank boosted their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Finally, Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Trading Up 1.0 %

NYSE T opened at $16.75 on Friday. The company’s 50-day moving average price is $16.96 and its 200-day moving average price is $16.57. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The stock has a market cap of $119.81 billion, a PE ratio of 9.01, a PEG ratio of 2.53 and a beta of 0.57.

AT&T (NYSE:T) last announced 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. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company 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.