Oppenheimer & Co. Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Oppenheimer & Co. Inc. trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 35.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 801,362 shares of the technology company's stock after selling 441,393 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in AT&T were worth $22,663,000 as of its most recent filing with the Securities and Exchange Commission.

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

AT&T Stock Performance

NYSE:T traded up $0.12 during mid-day trading on Thursday, reaching $28.04. 25,111,336 shares of the company's stock were exchanged, compared to its average volume of 36,461,065. The firm has a market capitalization of $201.73 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.96 and a beta of 0.41. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The business's fifty day simple moving average is $27.61 and its two-hundred day simple moving average is $25.91.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Barclays increased their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Finally, Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus target price of $28.76.

AT&T Company 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.