Entropy Technologies LP Has $1.24 Million Position in AT&T Inc. (NYSE:T)

Entropy Technologies LP cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 73.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,699 shares of the technology company's stock after selling 120,353 shares during the quarter. Entropy Technologies LP's holdings in AT&T were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% in the 1st 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. IMA Advisory Services Inc. acquired a new position in shares of AT&T during the 1st quarter valued at $29,000. Core Alternative Capital lifted its position in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the period. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Finally, Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. UBS Group reiterated a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Stock Up 0.2%

Shares of AT&T stock opened at $28.15 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $18.97 and a 52-week high of $29.19. The stock has a market capitalization of $201.28 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 3.48 and a beta of 0.42. The company's 50 day moving average price is $27.84 and its 200-day moving average price is $27.11.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities research analysts forecast 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 Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is 63.07%.

AT&T 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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

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.