Sigma Planning Corp Sells 47,629 Shares of AT&T Inc. (NYSE:T)

Sigma Planning Corp lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 20.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 186,735 shares of the technology company's stock after selling 47,629 shares during the period. Sigma Planning Corp's holdings in AT&T were worth $5,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in T. Brighton Jones LLC boosted its holdings in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in AT&T by 39.7% during the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock worth $655,000 after purchasing an additional 8,179 shares during the last quarter. Kestra Advisory Services LLC grew its position in AT&T by 5.8% in the 4th quarter. Kestra Advisory Services LLC now owns 1,251,244 shares of the technology company's stock worth $28,491,000 after purchasing an additional 68,598 shares in the last quarter. Picton Mahoney Asset Management increased its stake in AT&T by 1,820.9% in the 4th quarter. Picton Mahoney Asset Management now owns 247,262 shares of the technology company's stock valued at $5,631,000 after buying an additional 234,390 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in AT&T in the 4th quarter valued at about $694,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Barclays upped their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average price target of $29.12.

AT&T Price Performance

Shares of T stock traded up $0.19 on Monday, reaching $27.16. The company's stock had a trading volume of 30,699,427 shares, compared to its average volume of 38,332,375. The company has a market capitalization of $195.46 billion, a P/E ratio of 16.67, a PEG ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The stock's 50 day simple moving average is $27.82 and its 200-day simple moving average is $26.35. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company 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 dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.