AT&T Inc. (NYSE:T) Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. reduced its stake in AT&T by 4.7%, selling 26,018 shares, and now holds 525,299 shares, valued at approximately $14,855,000.
• Analysts have issued mixed ratings for AT&T, with 18 buy ratings, 6 hold ratings, and 1 sell rating, while increasing the average price target to $29.66.
• AT&T reported a quarterly earnings per share of $0.54, exceeding expectations, and announced a dividend of $0.2775 per share with a yield of 4.0%.

1834 Investment Advisors Co. lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 525,299 shares of the technology company's stock after selling 26,018 shares during the quarter. AT&T comprises 1.9% of 1834 Investment Advisors Co.'s portfolio, making the stock its 11th largest holding. 1834 Investment Advisors Co.'s holdings in AT&T were worth $14,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in T. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the period. IMA Advisory Services Inc. bought a new position in shares of AT&T in the 1st quarter worth about $29,000. Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Capital A Wealth Management LLC bought a new position in shares of AT&T during the fourth quarter valued at $25,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AT&T in the fourth quarter worth about $25,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of AT&T stock traded up $0.02 during trading on Friday, reaching $28.08. The company's stock had a trading volume of 23,594,470 shares, compared to its average volume of 34,716,284. The company has a 50-day moving average price of $27.83 and a two-hundred day moving average price of $26.97. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market cap of $200.78 billion, a PE ratio of 15.95, a P/E/G ratio of 3.48 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on T shares. Royal Bank Of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Finally, Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.66.

AT&T Profile

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.