Cidel Asset Management Inc. Sells 9,076 Shares of AT&T Inc. (NYSE:T)

Cidel Asset Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,602 shares of the technology company's stock after selling 9,076 shares during the quarter. Cidel Asset Management Inc.'s holdings in AT&T were worth $3,241,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in AT&T in the fourth quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new position in AT&T in the 4th quarter valued at $30,000. Finally, REAP Financial Group LLC increased its position in shares of AT&T by 115.2% during the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after purchasing an additional 727 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

NYSE T traded down $0.41 during trading on Wednesday, reaching $28.48. The company's stock had a trading volume of 17,517,866 shares, compared to its average volume of 36,334,127. The firm has a fifty day moving average of $27.72 and a 200 day moving average of $26.03. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The stock has a market capitalization of $204.89 billion, a PE ratio of 17.46, a P/E/G ratio of 4.11 and a beta of 0.42. 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 earnings results 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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.90%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. UBS Group restated a "buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Morgan Stanley reissued an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Barclays boosted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $28.90.

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.