CapWealth Advisors LLC Sells 1,641 Shares of AT&T Inc. (NYSE:T)

CapWealth Advisors LLC cut its position in AT&T Inc. (NYSE:T) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,097 shares of the technology company’s stock after selling 1,641 shares during the quarter. CapWealth Advisors LLC’s holdings in AT&T were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Central Pacific Bank Trust Division acquired a new stake in shares of AT&T during the 1st quarter worth $165,000. Mutual Advisors LLC grew its stake in AT&T by 11.1% during the first quarter. Mutual Advisors LLC now owns 300,390 shares of the technology company’s stock worth $5,287,000 after buying an additional 30,101 shares in the last quarter. Diversified LLC increased its holdings in AT&T by 20.4% in the 1st quarter. Diversified LLC now owns 15,505 shares of the technology company’s stock valued at $273,000 after buying an additional 2,628 shares during the period. Salomon & Ludwin LLC raised its position in shares of AT&T by 28.2% in the 1st quarter. Salomon & Ludwin LLC now owns 15,478 shares of the technology company’s stock valued at $272,000 after buying an additional 3,403 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of AT&T by 620.3% during the 1st quarter. Jennison Associates LLC now owns 3,919,092 shares of the technology company’s stock worth $68,976,000 after acquiring an additional 3,375,009 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE T remained flat at $18.81 during mid-day trading on Tuesday. 27,803,651 shares of the stock were exchanged, compared to its average volume of 36,500,313. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The business has a fifty day moving average of $17.87 and a 200-day moving average of $17.29. The company has a market capitalization of $134.87 billion, a PE ratio of 10.11, a P/E/G ratio of 4.26 and a beta of 0.58. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for 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 quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

A number of research firms have issued reports on T. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Oppenheimer reiterated an “outperform” rating and set a $21.00 price objective on shares of AT&T in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

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.