AT&T Inc. (NYSE:T) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,734 shares of the technology company's stock after selling 41,158 shares during the quarter. Rock Point Advisors LLC's holdings in AT&T were worth $4,800,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in AT&T by 39.7% in the 4th quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock worth $655,000 after purchasing an additional 8,179 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new position in AT&T in the 4th quarter worth approximately $2,703,000. Independent Advisor Alliance lifted its stake in AT&T by 17.9% in the 4th quarter. Independent Advisor Alliance now owns 214,508 shares of the technology company's stock worth $4,884,000 after purchasing an additional 32,636 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in AT&T in the 4th quarter worth approximately $208,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Barclays raised 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. Cowen reissued a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Finally, Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. One equities research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.12.

AT&T Trading Down 2.4%

NYSE T traded down $0.65 on Friday, reaching $26.97. The stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. The firm has a market capitalization of $194.07 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 3.45 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The stock has a fifty day moving average price of $27.82 and a two-hundred day moving average price of $26.30.

AT&T (NYSE:T - Get Free Report) last announced its earnings results 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 firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T's dividend payout ratio (DPR) is 68.10%.

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.