Cypress Capital Management LLC WY Has $1.10 Million Stake in AT&T Inc. (NYSE:T)

Cypress Capital Management LLC WY lowered its holdings in AT&T Inc. (NYSE:T) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,642 shares of the technology company’s stock after selling 12,025 shares during the quarter. Cypress Capital Management LLC WY’s holdings in AT&T were worth $1,101,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of T. Newport Trust Company LLC boosted its holdings in AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after acquiring an additional 673,043 shares during the last quarter. Northern Trust Corp raised its stake in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after purchasing an additional 1,828,237 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock worth $905,258,000 after purchasing an additional 334,222 shares during the period. FMR LLC raised its stake in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on T. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 1.6 %

Shares of AT&T stock traded up $0.27 during midday trading on Monday, reaching $17.02. 32,373,319 shares of the company’s stock traded hands, compared to its average volume of 39,301,441. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market cap of $121.74 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The stock has a 50 day moving average of $16.96 and a 200-day moving average of $16.58. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.52%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T 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.