AT&T Inc. (NYSE:T) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 63.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,971 shares of the technology company’s stock after selling 22,757 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in AT&T were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of T. Pinnacle Associates Ltd. lifted its holdings in shares of AT&T by 8.8% in the third quarter. Pinnacle Associates Ltd. now owns 432,835 shares of the technology company’s stock valued at $6,501,000 after purchasing an additional 35,102 shares in the last quarter. Mission Wealth Management LP lifted its stake in AT&T by 5.9% in the 3rd quarter. Mission Wealth Management LP now owns 42,842 shares of the technology company’s stock valued at $643,000 after buying an additional 2,404 shares in the last quarter. Dakota Wealth Management grew its holdings in AT&T by 9.9% during the 3rd quarter. Dakota Wealth Management now owns 81,268 shares of the technology company’s stock valued at $1,221,000 after buying an additional 7,348 shares during the last quarter. Simon Quick Advisors LLC increased its position in AT&T by 12.9% during the third quarter. Simon Quick Advisors LLC now owns 25,682 shares of the technology company’s stock worth $386,000 after buying an additional 2,935 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of AT&T by 32.1% in the third quarter. Stratos Wealth Advisors LLC now owns 70,762 shares of the technology company’s stock worth $1,063,000 after acquiring an additional 17,209 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on T. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Friday, January 19th. Finally, Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Performance

AT&T stock opened at $16.92 on Thursday. AT&T Inc. has a 12-month low of $13.43 and a 12-month 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 company has a market capitalization of $121.03 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The firm’s fifty day moving average price is $16.96 and its 200 day moving average price is $16.62.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $30.62 billion. During the same quarter last year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.