CX Institutional Sells 236,486 Shares of AT&T Inc. (NYSE:T)

CX Institutional trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 71.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,478 shares of the technology company's stock after selling 236,486 shares during the period. CX Institutional's holdings in AT&T were worth $2,728,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of T. Capital A Wealth Management LLC purchased a new position in AT&T during the 4th quarter worth $25,000. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new stake in AT&T during the fourth quarter worth $28,000. Finally, Tradewinds Capital Management LLC boosted its position in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

T traded down $0.09 on Thursday, reaching $28.25. The company had a trading volume of 23,283,172 shares, compared to its average volume of 36,642,515. The business has a 50 day simple moving average of $27.35 and a 200 day simple moving average of $25.56. The company has a market cap of $203.28 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03.

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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. TD Securities raised 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. Finally, Tigress Financial raised their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

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.