Cedar Wealth Management LLC Sells 9,182 Shares of AT&T Inc. (NYSE:T)

Cedar Wealth Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 43.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,895 shares of the technology company's stock after selling 9,182 shares during the period. Cedar Wealth Management LLC's holdings in AT&T were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Minot DeBlois Advisors LLC bought a new stake in AT&T in the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth $27,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $27.76 on Friday. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company's 50-day moving average is $27.80 and its 200 day moving average is $26.85. The stock has a market capitalization of $198.49 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.44 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on T. UBS Group reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Cowen reissued a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Finally, TD Securities boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.66.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.