Carnegie Lake Advisors LLC Trims Position in AT&T Inc. (NYSE:T)

Carnegie Lake Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 38.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,318 shares of the technology company's stock after selling 21,170 shares during the period. Carnegie Lake Advisors LLC's holdings in AT&T were worth $942,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in T. Next Level Private LLC boosted its stake in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after buying an additional 379 shares during the period. Carolinas Wealth Consulting LLC increased its position in AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. grew its position in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after acquiring an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its holdings in AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on T shares. Barclays raised their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

AT&T Stock Down 0.3%

T stock traded down $0.07 during mid-day trading on Friday, hitting $26.92. The stock had a trading volume of 27,403,482 shares, compared to its average volume of 36,405,886. 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 stock has a market capitalization of $193.71 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.36 and a beta of 0.42. The company has a fifty day moving average of $27.74 and a 200 day moving average of $26.47. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts expect 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. 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 of this dividend is Thursday, July 10th. AT&T's payout ratio is 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.