AT&T Inc. (NYSE:T) Shares Sold by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. cut its stake in AT&T Inc. (NYSE:T) by 34.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,228 shares of the technology company’s stock after selling 2,699 shares during the period. SRS Capital Advisors Inc.’s holdings in AT&T were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Carmel Capital Partners LLC grew its stake in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton acquired a new position in AT&T in the third quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the third quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in shares of AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Monday, April 29th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 0.2 %

Shares of T stock opened at $16.85 on Friday. The firm has a market capitalization of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The stock has a fifty day moving average of $16.97 and a two-hundred day moving average of $16.64.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts expect that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.59%. AT&T’s dividend payout ratio is currently 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.