AT&T Inc. (NYSE:T) Stake Cut by Rock Point Advisors LLC

Rock Point Advisors LLC lessened its holdings in AT&T Inc. (NYSE:T - Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Brighton Jones LLC boosted its stake in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of AT&T by 39.7% in the 4th quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company's stock valued at $655,000 after acquiring an additional 8,179 shares during the period. Johnson Investment Counsel Inc. bought a new position in shares of AT&T in the 4th quarter worth $2,703,000. Independent Advisor Alliance boosted its position in AT&T by 17.9% during the fourth quarter. Independent Advisor Alliance now owns 214,508 shares of the technology company's stock valued at $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 fourth quarter valued at about $208,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock traded down $0.50 during trading on Thursday, reaching $27.61. The company's stock had a trading volume of 25,030,281 shares, compared to its average volume of 36,440,534. The business has a 50 day moving average price of $27.84 and a 200-day moving average price of $26.24. The company has a market capitalization of $198.63 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 3.51 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.

AT&T (NYSE:T - Get Free Report) last announced its quarterly 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). 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 company'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 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company 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 4.02%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. TD Securities upped their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Tigress Financial raised their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average target price of $29.10.

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.