Bessemer Group Inc. Has $3.62 Million Stake in AT&T Inc. (NYSE:T)

Bessemer Group Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 60.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,055 shares of the technology company’s stock after selling 199,019 shares during the quarter. Bessemer Group Inc.’s holdings in AT&T were worth $3,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Minot DeBlois Advisors LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new position in AT&T in the 4th quarter valued at about $27,000. Ball & Co Wealth Management Inc. bought a new position in AT&T in the 4th quarter valued at about $30,000. Finally, REAP Financial Group LLC increased its holdings in AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock valued at $31,000 after buying an additional 727 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. 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 report on Tuesday, April 29th. Oppenheimer raised their target price on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Wells Fargo & Company lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Finally, UBS Group reaffirmed a “buy” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.76.

AT&T Trading Up 0.3%

T opened at $28.08 on Friday. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm has a market capitalization of $202.02 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 3.97 and a beta of 0.41. The company’s 50 day moving average price is $27.63 and its two-hundred day moving average price is $25.94.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

AT&T Company 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.