Alps Advisors Inc. Sells 115,435 Shares of AT&T Inc. (NYSE:T)

Alps Advisors Inc. trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,209,570 shares of the technology company's stock after selling 115,435 shares during the period. Alps Advisors Inc.'s holdings in AT&T were worth $34,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $27,000. Core Alternative Capital raised its position 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 buying an additional 568 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of AT&T during the fourth quarter valued at about $30,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on T. JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Oppenheimer increased their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Morgan Stanley reissued an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $29.12.

AT&T Stock Down 2.0%

Shares of NYSE:T traded down $0.57 during midday trading on Friday, reaching $27.06. 25,994,878 shares of the company were exchanged, compared to its average volume of 36,403,959. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $27.84 and a two-hundred day simple moving average of $26.27. The firm has a market cap of $194.68 billion, a PE ratio of 16.60, a P/E/G ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm 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 13.63% and a net margin of 9.64%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

AT&T Company 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.