AT&T Inc. (NYSE:T) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in AT&T Inc. (NYSE:T) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,386,712 shares of the technology company’s stock after selling 2,977,088 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.33% of AT&T worth $411,607,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at $25,000. First Pacific Financial grew its holdings in AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of AT&T by 58.2% in the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after purchasing an additional 811 shares during the last quarter. Finally, ESL Trust Services LLC acquired a new position in shares of AT&T in the 1st quarter valued at $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on T shares. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

AT&T Price Performance

Shares of T traded down $0.11 during mid-day trading on Monday, hitting $18.90. The company’s stock had a trading volume of 11,303,082 shares, compared to its average volume of 36,648,801. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $18.32 and a 200 day simple moving average of $17.47. The firm has a market capitalization of $135.52 billion, a P/E ratio of 10.17, a P/E/G ratio of 3.22 and a beta of 0.58. AT&T Inc. has a 1-year low of $13.89 and a 1-year high of $19.74.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.87%. 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.