Cutter & CO Brokerage Inc. Trims Holdings in AT&T Inc. (NYSE:T)

Cutter & CO Brokerage Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,982 shares of the technology company’s stock after selling 4,265 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in AT&T were worth $1,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sora Investors LLC acquired a new stake in AT&T during the third quarter worth $11,265,000. Robeco Institutional Asset Management B.V. increased its stake in AT&T by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock worth $259,219,000 after acquiring an additional 383,015 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after acquiring an additional 1,178 shares during the last quarter. Retireful LLC acquired a new stake in AT&T during the fourth quarter worth $1,163,000. Finally, Terril Brothers Inc. increased its stake in AT&T by 51.6% during the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock worth $8,937,000 after acquiring an additional 202,637 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Tigress Financial lifted their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.50.

AT&T Stock Performance

T stock traded up $0.20 during trading on Tuesday, hitting $16.51. The company had a trading volume of 47,772,969 shares, compared to its average volume of 38,895,176. The firm has a market cap of $118.09 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The firm has a 50-day moving average price of $16.99 and a 200-day moving average price of $16.53. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

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.