AT&T Inc. (NYSE:T) Stake Lessened by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 71,982 shares of the technology company’s stock after selling 4,265 shares during the period. Cutter & CO Brokerage Inc.’s holdings in AT&T were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Carmel Capital Partners LLC increased its position in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new stake in shares of AT&T in the third quarter valued at about $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T in the third quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC grew its position in shares of AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after purchasing an additional 2,241 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on T shares. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

AT&T Stock Performance

Shares of T stock traded up $0.20 on Tuesday, reaching $16.51. The stock had a trading volume of 47,772,969 shares, compared to its average volume of 38,895,176. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average is $16.99 and its two-hundred day moving average is $16.53. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 2.49 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.72%. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

AT&T Company Profile

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.