Van Hulzen Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T – Get Rating) by 21.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,247 shares of the technology company’s stock after selling 6,519 shares during the period. Van Hulzen Asset Management LLC’s holdings in AT&T were worth $573,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of T. SWS Partners bought a new position in shares of AT&T in the first quarter worth about $25,000. KRS Capital Management LLC bought a new position in shares of AT&T in the fourth quarter worth about $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in AT&T in the 1st quarter valued at approximately $27,000. Cordant Inc. bought a new position in AT&T in the 1st quarter valued at approximately $31,000. Finally, Capital Management Associates NY bought a new position in AT&T in the 1st quarter valued at approximately $34,000. 52.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Cowen dropped their price objective on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Raymond James reiterated an “outperform” rating and issued a $26.00 price objective on shares of AT&T in a report on Thursday, July 7th. Wolfe Research lowered their price target on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Friday, July 22nd. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.78.
AT&T Stock Performance
AT&T (NYSE:T – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $29.64 billion for the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. Sell-side analysts predict that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.
AT&T Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend was Friday, July 8th. AT&T’s payout ratio is 40.81%.
AT&T Company Profile
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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