Cutter & CO Brokerage Inc. Sells 11,844 Shares of AT&T Inc. (NYSE:T)

Cutter & CO Brokerage Inc. cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,893 shares of the technology company's stock after selling 11,844 shares during the period. Cutter & CO Brokerage Inc.'s holdings in AT&T were worth $1,581,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in T. Next Level Private LLC raised its position in shares of AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC raised its holdings in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares in the last quarter. Kozak & Associates Inc. lifted its position in shares of AT&T by 9.4% during the 1st 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 during the period. Silver Oak Securities Incorporated grew its holdings in shares of 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 purchasing an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC increased its position in shares of 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 own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. TD Securities raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.12.

AT&T Stock Performance

NYSE T opened at $26.97 on Monday. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $194.07 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 3.37 and a beta of 0.42. The stock has a fifty day simple moving average of $27.82 and a 200 day simple moving average of $26.35.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

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