Cypress Capital Management LLC WY Trims Position in AT&T Inc. (NYSE:T)

Cypress Capital Management LLC WY reduced its position in AT&T Inc. (NYSE:T) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,642 shares of the technology company’s stock after selling 12,025 shares during the quarter. Cypress Capital Management LLC WY’s holdings in AT&T were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings 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 valued at $651,000 after purchasing an additional 10,758 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of AT&T during the third quarter valued at about $237,000. Fulton Breakefield Broenniman LLC grew its stake in shares of AT&T by 23.3% during the third quarter. Fulton Breakefield Broenniman LLC now owns 15,108 shares of the technology company’s stock valued at $227,000 after acquiring an additional 2,857 shares in the last quarter. Coastal Investment Advisors Inc. grew its stake in shares of AT&T by 2.4% during the third quarter. Coastal Investment Advisors Inc. now owns 83,713 shares of the technology company’s stock valued at $1,335,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in shares of AT&T by 8.7% during the third quarter. Brookstone Capital Management now owns 1,039,180 shares of the technology company’s stock valued at $15,858,000 after acquiring an additional 83,154 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T traded up $0.27 during mid-day trading on Monday, reaching $17.02. 32,373,319 shares of the company traded hands, compared to its average volume of 39,301,441. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $121.74 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The stock has a fifty day simple moving average of $16.96 and a 200-day simple moving average of $16.58.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.52%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on T shares. Scotiabank increased their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Citigroup increased their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday. Finally, StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $20.81.

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.