AT&T Inc. (NYSE:T) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 7.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 136,050 shares of the technology company's stock after selling 11,364 shares during the quarter. Kovack Advisors Inc.'s holdings in AT&T were worth $3,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Virtu Financial LLC bought a new stake in AT&T in the fourth quarter worth $392,000. Modern Wealth Management LLC lifted its position in AT&T by 10.2% in the fourth quarter. Modern Wealth Management LLC now owns 73,504 shares of the technology company's stock worth $1,827,000 after buying an additional 6,794 shares during the last quarter. FineMark National Bank & Trust lifted its position in AT&T by 1.7% in the fourth quarter. FineMark National Bank & Trust now owns 32,057 shares of the technology company's stock worth $730,000 after buying an additional 549 shares during the last quarter. Finally, TIAA Trust National Association increased its stake in AT&T by 1.8% in the fourth quarter. TIAA Trust National Association now owns 229,986 shares of the technology company's stock worth $5,237,000 after purchasing an additional 4,081 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE:T traded up $0.10 during trading hours on Friday, reaching $28.02. The company had a trading volume of 33,981,327 shares, compared to its average volume of 32,249,414. AT&T Inc. has a 1-year low of $18.64 and a 1-year high of $29.19. The firm has a market cap of $201.58 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. The business's 50 day moving average price is $27.80 and its 200-day moving average price is $26.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.65.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Ratings Changes

A number of research firms have weighed in on T. TD Securities increased their target price on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Williams Trading set a $30.00 price target on AT&T in a research note on Thursday, April 24th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday. Finally, Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.37.

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.