Radnor Capital Management LLC Trims Stake in AT&T Inc. (NYSE:T)

Radnor Capital Management LLC lowered its position in AT&T Inc. (NYSE:T) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,015 shares of the technology company’s stock after selling 1,500 shares during the quarter. Radnor Capital Management LLC’s holdings in AT&T were worth $1,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC increased its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC increased its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after buying an additional 26,280,866 shares during the period. Bank of New York Mellon Corp increased its stake in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after buying an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new position in AT&T in the 4th quarter worth about $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on T shares. Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Tigress Financial raised their target price on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Price Performance

AT&T stock opened at $28.09 on Friday. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The firm has a market capitalization of $202.12 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. The company has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $25.45. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the previous year, the company earned $0.55 EPS. AT&T’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio is currently 68.10%.

AT&T Profile

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.