AT&T Inc. (NYSE:T) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 62.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,227 shares of the technology company's stock after selling 357,035 shares during the quarter. Cresset Asset Management LLC's holdings in AT&T were worth $4,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth $28,000. YANKCOM Partnership acquired a new stake in shares of AT&T during the fourth quarter worth about $30,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the 4th quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of AT&T in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on T shares. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Thursday, January 16th. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Price Performance

Shares of T stock traded up $0.41 during midday trading on Friday, reaching $27.88. 29,202,762 shares of the company traded hands, compared to its average volume of 36,503,549. AT&T Inc. has a 1-year low of $17.11 and a 1-year high of $29.03. The firm has a market cap of $200.61 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm's 50 day simple moving average is $27.15 and its two-hundred day simple moving average is $24.73. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. AT&T's dividend payout ratio is currently 68.10%.

About AT&T

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.