Calton & Associates Inc. Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Calton & Associates Inc. cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 94.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the technology company's stock after selling 31,358 shares during the quarter. Calton & Associates Inc.'s holdings in AT&T were worth $56,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in AT&T during the 4th quarter valued at $27,000. Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. Finally, Core Alternative Capital raised its position in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. UBS Group reissued a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Scotiabank upped their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Thursday. Finally, Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.30.

AT&T Stock Up 1.2%

Shares of T stock traded up $0.33 during mid-day trading on Thursday, hitting $28.08. 21,645,089 shares of the stock traded hands, compared to its average volume of 38,015,887. The stock has a market cap of $202.02 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.42 and a beta of 0.42. The stock's fifty day moving average is $27.79 and its two-hundred day moving average is $26.54. AT&T Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. AT&T's revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. 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.