AT&T Inc. (NYSE:T) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 1.9% during the first quarter, HoldingsChannel reports. The firm owned 233,593 shares of the technology company’s stock after selling 4,460 shares during the period. Concurrent Investment Advisors LLC’s holdings in AT&T were worth $4,111,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in AT&T during the fourth quarter worth approximately $11,554,000. Provence Wealth Management Group grew its holdings in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC grew its holdings in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Retireful LLC acquired a new stake in AT&T during the 4th quarter valued at $1,163,000. Finally, Brighton Jones LLC grew its holdings in AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after purchasing an additional 5,161 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. Scotiabank raised their price target on shares of AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 10th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Finally, Oppenheimer restated an “outperform” rating and issued a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

AT&T Stock Performance

NYSE:T traded down $0.21 during mid-day trading on Monday, hitting $18.60. The stock had a trading volume of 17,850,688 shares, compared to its average volume of 36,246,293. The stock has a market capitalization of $133.37 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 3.55 and a beta of 0.58. The company has a 50 day simple moving average of $17.98 and a 200-day simple moving average of $17.34. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. On average, research analysts expect that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business 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 dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.97%. AT&T’s payout ratio is 59.68%.

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.