AT&T Inc. (NYSE:T) Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 650,723 shares of the technology company's stock after selling 90,938 shares during the quarter. Brookstone Capital Management's holdings in AT&T were worth $18,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of T. Brighton Jones LLC boosted its position in shares of 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 purchasing an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of AT&T by 39.7% in the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock valued at $655,000 after purchasing an additional 8,179 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of AT&T by 0.3% during the 4th quarter. Cullen Frost Bankers Inc. now owns 711,006 shares of the technology company's stock worth $16,190,000 after acquiring an additional 2,197 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $674,000. Finally, LHM Inc. increased its stake in AT&T by 5.6% during the fourth quarter. LHM Inc. now owns 253,492 shares of the technology company's stock worth $5,772,000 after acquiring an additional 13,542 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Morgan Stanley reissued an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Tigress Financial upped their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus price target of $28.90.

AT&T Price Performance

Shares of T traded up $0.02 during midday trading on Friday, hitting $28.33. 21,085,177 shares of the company traded hands, compared to its average volume of 36,473,882. The firm has a market cap of $203.82 billion, a P/E ratio of 17.38, a PEG ratio of 4.02 and a beta of 0.42. The stock has a 50-day moving average of $27.76 and a 200-day moving average of $26.08. 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 Inc. has a one year low of $18.14 and a one year high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) 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 business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the company 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, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 68.10%.

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.