Raleigh Capital Management Inc. Trims Stock Holdings in AT&T Inc. (NYSE:T)

Raleigh Capital Management Inc. trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 28.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,372 shares of the technology company's stock after selling 19,532 shares during the quarter. Raleigh Capital Management Inc.'s holdings in AT&T were worth $1,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in AT&T in the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new stake in AT&T during the 4th quarter worth about $27,000. Core Alternative Capital lifted its position in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new stake in AT&T during the 4th quarter worth about $30,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on T shares. Bank of America started coverage on shares of AT&T in a research note on Monday. They set a "buy" rating and a $32.00 price objective on the stock. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Oppenheimer upped their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Evercore ISI upped 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. Finally, Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $29.05.

AT&T Stock Down 0.4%

Shares of NYSE T traded down $0.11 during mid-day trading on Tuesday, reaching $28.30. 24,934,438 shares of the company's stock traded hands, compared to its average volume of 36,447,480. The stock has a market cap of $203.64 billion, a P/E ratio of 17.36, a PEG ratio of 4.67 and a beta of 0.42. The business has a 50-day simple moving average of $27.81 and a 200 day simple moving average of $26.21. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. 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 (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business 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 firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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 issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 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.