Gamco Investors INC. ET AL Sells 7,770 Shares of AT&T Inc. (NYSE:T)

Gamco Investors INC. ET AL cut its stake in shares of AT&T Inc. (NYSE:T) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 828,790 shares of the technology company’s stock after selling 7,770 shares during the period. Gamco Investors INC. ET AL’s holdings in AT&T were worth $14,587,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Blackston Financial Advisory Group LLC bought a new stake in AT&T in the fourth quarter valued at approximately $360,000. Schechter Investment Advisors LLC bought a new stake in AT&T in the 4th quarter valued at $269,000. Bouchey Financial Group Ltd lifted its holdings in AT&T by 6.6% during the 4th quarter. Bouchey Financial Group Ltd now owns 15,976 shares of the technology company’s stock valued at $268,000 after purchasing an additional 996 shares during the last quarter. MJP Associates Inc. ADV boosted its position in AT&T by 22.3% during the fourth quarter. MJP Associates Inc. ADV now owns 18,725 shares of the technology company’s stock worth $314,000 after purchasing an additional 3,415 shares during the period. Finally, RHS Financial LLC acquired a new position in shares of AT&T in the fourth quarter valued at $223,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.9 %

T stock traded down $0.18 during trading on Friday, hitting $19.01. The company had a trading volume of 30,844,174 shares, compared to its average volume of 35,635,392. The stock has a market cap of $136.30 billion, a PE ratio of 10.22, a PEG ratio of 3.69 and a beta of 0.58. The business has a 50-day moving average of $18.32 and a 200-day moving average of $17.46. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $13.89 and a one year high of $19.74.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several research reports. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday. Scotiabank raised their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a research report on Thursday. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.33.

About AT&T

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.