Mutual Advisors LLC Sells 35,546 Shares of AT&T Inc. (NYSE:T)

Mutual Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,746 shares of the technology company's stock after selling 35,546 shares during the period. Mutual Advisors LLC's holdings in AT&T were worth $6,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter worth $27,000. Ball & Co Wealth Management Inc. bought a new position in shares of AT&T in the fourth quarter worth $30,000. Finally, REAP Financial Group LLC boosted 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 worth $31,000 after acquiring an additional 727 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on T shares. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company increased their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.90.

AT&T Trading Up 0.1%

AT&T stock traded up $0.02 during trading hours on Friday, reaching $28.33. The company had a trading volume of 21,085,177 shares, compared to its average volume of 36,496,958. 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 $29.19. The firm has a market cap of $203.82 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. The company has a 50-day moving average price of $27.79 and a 200 day moving average price of $26.15.

AT&T (NYSE:T - Get Free Report) last posted 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 business had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period last year, the firm posted $0.55 earnings per share. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T's payout ratio is 68.10%.

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.