Sunbelt Securities Inc. Decreases Stake in AT&T Inc. (NYSE:T)

Sunbelt Securities Inc. lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,991 shares of the technology company's stock after selling 60,610 shares during the period. Sunbelt Securities Inc.'s holdings in AT&T were worth $1,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T during the fourth quarter worth about $30,000. Finally, REAP Financial Group LLC lifted its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock worth $31,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.3%

Shares of NYSE T traded up $0.08 during midday trading on Friday, hitting $28.08. 37,331,600 shares of the company's stock were exchanged, compared to its average volume of 36,487,186. 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 Inc. has a twelve month low of $18.14 and a twelve month high of $29.03. The company has a market cap of $202.02 billion, a PE ratio of 17.22, a P/E/G ratio of 3.97 and a beta of 0.41. The firm's fifty day simple moving average is $27.63 and its 200-day simple moving average is $25.94.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS 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 return on equity of 13.63% and a net margin of 9.64%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced 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 3.95%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analyst Weigh In

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