Congress Park Capital LLC Sells 1,000 Shares of AT&T Inc. (NYSE:T)

Congress Park Capital LLC cut its position in shares of AT&T Inc. (NYSE:T) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,500 shares of the technology company’s stock after selling 1,000 shares during the period. Congress Park Capital LLC’s holdings in AT&T were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in AT&T in the fourth quarter valued at about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T in the 4th quarter valued at approximately $25,000. Ramirez Asset Management Inc. bought a new position in AT&T in the third quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake 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 in the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in AT&T in the fourth quarter valued at approximately $39,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Scotiabank lifted their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $21.00 price target on shares of AT&T in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Stock Up 1.4 %

Shares of AT&T stock traded up $0.27 on Friday, hitting $19.02. The company had a trading volume of 21,190,098 shares, compared to its average volume of 36,642,445. The stock has a market capitalization of $136.38 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 4.26 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.11. The stock has a 50 day moving average of $17.47 and a 200-day moving average of $17.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.