Cwm LLC Sells 113,377 Shares of AT&T Inc. $T

Key Points

• Cwm LLC has reduced its stake in AT&T Inc. by 4.8%, selling 113,377 shares and now holding 2,268,057 shares valued at approximately $65.6 million.
• Market analysts have increased their target prices for AT&T, with several firms including JPMorgan and Sanford C. Bernstein setting new targets between $31.00 and $33.00, reflecting a generally positive outlook on the stock.
• AT&T recently announced a quarterly dividend of $0.2775 per share, resulting in a 4.3% dividend yield, and will be payable on November 3rd, with the ex-dividend date on October 10th.

Cwm LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,268,057 shares of the technology company's stock after selling 113,377 shares during the period. Cwm LLC's holdings in AT&T were worth $65,638,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the second quarter worth approximately $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% during 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 period. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock worth $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital raised its position in shares of AT&T by 125.4% during 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 period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on T shares. Sanford C. Bernstein upped their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AT&T in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Bank of America started coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Trading Down 1.0%

NYSE T opened at $25.85 on Friday. The firm has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. The business has a fifty day simple moving average of $28.45 and a 200 day simple moving average of $27.88. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

About AT&T

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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