AT&T Inc. (NYSE:T) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,146 shares of the technology company's stock after selling 11,767 shares during the quarter. HBK Sorce Advisory LLC's holdings in AT&T were worth $6,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $25,000. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in AT&T during the 4th quarter worth about $27,000. Ball & Co Wealth Management Inc. purchased a new stake in AT&T during the 4th quarter valued at about $30,000. Finally, REAP Financial Group LLC increased its holdings in shares of AT&T by 115.2% in the fourth 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 period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on T. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.76.

AT&T Price Performance

NYSE T traded down $0.35 on Wednesday, hitting $27.93. The company had a trading volume of 26,183,730 shares, compared to its average volume of 36,471,606. The company has a market capitalization of $200.97 billion, a PE ratio of 17.13, a PEG ratio of 4.00 and a beta of 0.41. The company's fifty day moving average price is $27.57 and its 200-day moving average price is $25.86. 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 Inc. has a 12-month low of $18.14 and a 12-month 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 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 analyst estimates of $30.39 billion. During the same quarter last year, the business earned $0.55 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.97%. AT&T's payout ratio is 68.10%.

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.