CX Institutional Sells 236,486 Shares of AT&T Inc. (NYSE:T)

CX Institutional reduced its position in shares of AT&T Inc. (NYSE:T) by 71.0% in the first quarter, HoldingsChannel reports. The firm owned 96,478 shares of the technology company’s stock after selling 236,486 shares during the quarter. CX Institutional’s holdings in AT&T were worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Consolidated Planning Corp lifted its position in shares of AT&T by 7.4% during the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Keystone Financial Group lifted its position in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after buying an additional 143,744 shares in the last quarter. World Investment Advisors lifted its position in shares of AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. lifted its position in shares of AT&T by 14.6% during the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after buying an additional 365,776 shares in the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $691,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

T has been the topic of a number of analyst reports. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research report on Thursday, February 13th. Scotiabank reaffirmed an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 price target 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 assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Down 0.4%

NYSE T opened at $28.32 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $203.74 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The stock has a 50 day moving average price of $27.35 and a 200-day moving average price of $25.56.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s payout ratio is presently 68.10%.

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.