Alpha Cubed Investments LLC Sells 4,915 Shares of AT&T Inc. (NYSE:T)

Alpha Cubed Investments LLC trimmed its position in AT&T Inc. (NYSE:T) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,841 shares of the technology company’s stock after selling 4,915 shares during the period. Alpha Cubed Investments LLC’s holdings in AT&T were worth $501,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Carmel Capital Partners LLC increased its holdings in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton acquired a new stake in AT&T in the third quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the third quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. Finally, Morton Brown Family Wealth LLC increased its holdings in AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after purchasing an additional 2,241 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.4 %

Shares of AT&T stock opened at $16.96 on Wednesday. The company has a market cap of $121.31 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 3.38 and a beta of 0.57. The company’s 50 day moving average is $16.97 and its 200 day moving average is $16.62. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.54%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Finally, TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.