Cypress Capital Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 18.7% in the first quarter, HoldingsChannel reports. The firm owned 218,097 shares of the technology company’s stock after selling 50,200 shares during the period. Cypress Capital Management LLC’s holdings in AT&T were worth $6,602,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of AT&T in the 4th quarter valued at $2,019,873,000. BlackRock Inc. increased its holdings in shares of AT&T by 1.3% in the 1st quarter. BlackRock Inc. now owns 492,116,917 shares of the technology company’s stock valued at $14,896,379,000 after acquiring an additional 6,548,263 shares during the period. GSB Wealth Management LLC increased its holdings in shares of AT&T by 49,780.4% in the 1st quarter. GSB Wealth Management LLC now owns 4,912,719 shares of the technology company’s stock valued at $143,886,000 after acquiring an additional 4,902,870 shares during the period. State of Michigan Retirement System increased its holdings in shares of AT&T by 209.4% in the 1st quarter. State of Michigan Retirement System now owns 6,350,811 shares of the technology company’s stock valued at $192,239,000 after acquiring an additional 4,298,000 shares during the period. Finally, Cullen Capital Management LLC increased its holdings in shares of AT&T by 297.5% in the 1st quarter. Cullen Capital Management LLC now owns 5,367,698 shares of the technology company’s stock valued at $162,480,000 after acquiring an additional 4,017,363 shares during the period. 50.48% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Friday, May 21st. Morgan Stanley dropped their target price on AT&T from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Monday, May 24th. Oppenheimer restated a “hold” rating on shares of AT&T in a research note on Monday, April 26th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $31.00 to $34.00 in a research note on Wednesday, April 28th. Finally, UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $35.00 in a research note on Friday, May 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.75.
AT&T stock traded down $0.01 during trading hours on Friday, hitting $29.17. 387,756 shares of the stock traded hands, compared to its average volume of 46,463,395. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.78. The firm’s 50 day moving average price is $30.45. The firm has a market capitalization of $208.27 billion, a PE ratio of -83.34, a price-to-earnings-growth ratio of 3.06 and a beta of 0.77. AT&T Inc. has a 1 year low of $26.35 and a 1 year high of $33.88.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The business had revenue of $43.90 billion during the quarter, compared to analysts’ expectations of $42.69 billion. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Sell-side analysts expect that AT&T Inc. will post 3.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.13%. AT&T’s dividend payout ratio (DPR) is presently 65.41%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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