Praxis Investment Management Inc. Sells 31,780 Shares of AT&T Inc. (NYSE:T)

Praxis Investment Management Inc. reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,986 shares of the technology company's stock after selling 31,780 shares during the period. Praxis Investment Management Inc.'s holdings in AT&T were worth $4,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in T. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the 4th quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at $28,000. Finally, Tradewinds Capital Management LLC increased its stake in shares of 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 acquiring an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.5%

T stock opened at $27.79 on Friday. AT&T Inc. has a fifty-two week low of $18.07 and a fifty-two week high of $29.03. The business's 50-day moving average is $27.53 and its two-hundred day moving average is $25.78. 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 company has a market cap of $199.96 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 3.85 and a beta of 0.41.

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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on T. Morgan Stanley restated an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Wednesday. Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.76.

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.

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