MAI Capital Management Sells 11,982 Shares of AT&T Inc. $T

Key Points

• MAI Capital Management reduced its stake in AT&T by 2.5%, selling 11,982 shares and now holds 469,932 shares valued at approximately $13.29 million.
• AT&T's recent earnings report showed an EPS of $0.54, exceeding analysts' expectations, with revenue of $30.85 billion, an increase of 3.4% year-over-year.
• AT&T declared a quarterly dividend of $0.2775 per share, with a current yield of 3.8% and a payout ratio of 63.07%.

MAI Capital Management lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,932 shares of the technology company's stock after selling 11,982 shares during the quarter. MAI Capital Management's holdings in AT&T were worth $13,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP purchased a new position in AT&T in the 1st quarter worth about $33,000. Calton & Associates Inc. boosted its position in AT&T by 112.3% during the 1st quarter. Calton & Associates Inc. now owns 70,772 shares of the technology company's stock worth $2,001,000 after acquiring an additional 37,431 shares during the period. Saudi Central Bank acquired a new stake in AT&T during the 1st quarter worth about $80,000. DRW Securities LLC boosted its position in AT&T by 191.1% during the 1st quarter. DRW Securities LLC now owns 52,601 shares of the technology company's stock worth $1,485,000 after acquiring an additional 34,530 shares during the period. Finally, Texas Bank & Trust Co boosted its position in AT&T by 5.8% during the 1st quarter. Texas Bank & Trust Co now owns 63,910 shares of the technology company's stock worth $1,807,000 after acquiring an additional 3,496 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Down 0.2%

Shares of T traded down $0.06 during midday trading on Wednesday, reaching $29.03. 27,234,975 shares of the stock were exchanged, compared to its average volume of 36,846,438. AT&T Inc. has a 12-month low of $20.25 and a 12-month high of $29.65. The firm has a 50 day simple moving average of $28.15 and a 200-day simple moving average of $27.57. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $207.54 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the business earned $0.51 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. Finally, Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.40.

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.