Wright Investors Service Inc. Has $1.58 Million Holdings in AT&T Inc. (NYSE:T)

Wright Investors Service Inc. lowered its stake in AT&T Inc. (NYSE:T) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,701 shares of the technology company’s stock after selling 2,836 shares during the period. Wright Investors Service Inc.’s holdings in AT&T were worth $1,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T in the fourth quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth about $28,000. Finally, YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Securities boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Trading Up 1.3%

Shares of T opened at $27.73 on Friday. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The firm has a market capitalization of $199.53 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.00 and a beta of 0.42. The stock’s 50-day moving average price is $27.36 and its 200 day moving average price is $25.29. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings data 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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. 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.