Sunbelt Securities Inc. Trims Position in AT&T Inc. (NYSE:T)

Sunbelt Securities Inc. cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,601 shares of the technology company's stock after selling 29,725 shares during the period. Sunbelt Securities Inc.'s holdings in AT&T were worth $2,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in AT&T during the fourth quarter worth about $25,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $28,000. Tradewinds Capital Management LLC boosted its position in shares of AT&T by 48.6% during 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 during the last quarter. YANKCOM Partnership purchased a new position in shares of AT&T during the fourth quarter worth about $30,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter worth approximately $34,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein upped their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Morgan Stanley reaffirmed 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. Finally, Evercore ISI upped their price objective on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. One 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Down 0.9%

Shares of AT&T stock opened at $27.22 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52-week low of $17.11 and a 52-week high of $29.03. The company's 50 day moving average price is $27.29 and its 200-day moving average price is $25.05. The stock has a market capitalization of $195.86 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.00 and a beta of 0.42.

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 the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.08%. AT&T's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.