HighPoint Advisor Group LLC Sells 10,240 Shares of AT&T Inc. (NYSE:T)

HighPoint Advisor Group LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 320,995 shares of the technology company's stock after selling 10,240 shares during the period. HighPoint Advisor Group LLC's holdings in AT&T were worth $8,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Minot DeBlois Advisors LLC purchased a new stake in AT&T in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the fourth quarter valued at $27,000. Hager Investment Management Services LLC lifted its position in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares during the last quarter. Finally, Core Alternative Capital increased its stake in AT&T by 125.4% in 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 period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T traded down $0.01 during midday trading on Tuesday, reaching $27.37. The company's stock had a trading volume of 35,137,257 shares, compared to its average volume of 36,400,375. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $27.74 and a 200 day moving average price of $26.49. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The company has a market cap of $196.97 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.05%. AT&T's dividend payout ratio is presently 68.10%.

Analysts Set New Price Targets

Several brokerages have weighed in on T. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. 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 report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

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.