AT&T Inc. (NYSE:T) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 36.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,280 shares of the technology company's stock after selling 86,879 shares during the period. Axxcess Wealth Management LLC's holdings in AT&T were worth $4,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Next Level Private LLC boosted its stake in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. boosted its position in AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after buying an additional 398 shares during the period. Silver Oak Securities Incorporated grew its stake in shares of AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its position in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

NYSE T traded down $0.50 during mid-day trading on Thursday, hitting $27.61. The stock had a trading volume of 25,030,281 shares, compared to its average volume of 36,440,534. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The stock has a market capitalization of $198.63 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 3.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm's 50 day moving average is $27.84 and its 200 day moving average is $26.24.

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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. Barclays increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Williams Trading set a $30.00 price objective on shares of AT&T in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.10.

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.