Center For Asset Management LLC Sells 797 Shares of AT&T Inc. (NYSE:T)

Center For Asset Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 71,072 shares of the technology company’s stock after selling 797 shares during the period. AT&T comprises about 1.2% of Center For Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Center For Asset Management LLC’s holdings in AT&T were worth $2,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new position in AT&T during the 4th quarter worth $27,000. Marshall Investment Management LLC purchased a new position in AT&T during the 4th quarter worth $28,000. Finally, Tradewinds Capital Management LLC grew its stake in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after buying an additional 430 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $27.79 on Friday. The company has a market cap of $199.96 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41. The stock’s 50 day simple moving average is $27.53 and its 200-day simple moving average is $25.78. AT&T Inc. has a 1-year low of $18.07 and a 1-year high of $29.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T) last released its earnings results 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 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter last year, the business earned $0.55 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday. UBS Group reissued a “buy” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday. JPMorgan Chase & Co. upped their target price on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $28.76.

About AT&T

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.