Callahan Advisors LLC Sells 52,938 Shares of AT&T Inc. (NYSE:T)

Callahan Advisors LLC decreased its position in AT&T Inc. (NYSE:T - Free Report) by 15.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,916 shares of the technology company's stock after selling 52,938 shares during the quarter. Callahan Advisors LLC's holdings in AT&T were worth $8,510,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in T. Brighton Jones LLC grew its stake in shares of 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 acquiring an additional 10,188 shares during the last quarter. Proficio Capital Partners LLC grew its stake 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 worth $655,000 after acquiring an additional 8,179 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter worth $280,000. Sequoia Financial Advisors LLC boosted its position in shares of AT&T by 53.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 381,619 shares of the technology company's stock valued at $8,689,000 after buying an additional 133,627 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in AT&T by 30.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 37,590 shares of the technology company's stock worth $856,000 after buying an additional 8,788 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley reissued an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, UBS Group reiterated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.12.

AT&T Price Performance

AT&T stock traded down $0.65 during mid-day trading on Friday, hitting $26.97. The stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. 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 firm has a market capitalization of $194.07 billion, a P/E ratio of 16.55, a P/E/G ratio of 3.45 and a beta of 0.42. The firm's 50 day moving average is $27.82 and its 200 day moving average is $26.30.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. AT&T's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 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.