Birmingham Capital Management Co. Inc. AL Sells 1,161 Shares of AT&T Inc. (NYSE:T)

Birmingham Capital Management Co. Inc. AL cut its stake in AT&T Inc. (NYSE:T) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,555 shares of the technology company’s stock after selling 1,161 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in AT&T were worth $559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Buska Wealth Management LLC increased its stake in AT&T by 3.2% during the 4th quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock worth $305,000 after purchasing an additional 412 shares in the last quarter. Park Square Financial Group LLC bought a new stake in AT&T during the 4th quarter worth approximately $305,000. Total Wealth Planning & Management Inc. bought a new stake in AT&T during the 4th quarter worth approximately $520,000. Menard Financial Group LLC bought a new stake in AT&T during the 4th quarter worth approximately $62,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in AT&T during the 4th quarter worth about $103,079,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on T. JPMorgan Chase & Co. increased their target price on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research note on Thursday, February 13th. Evercore ISI raised their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Trading Up 0.8%

AT&T stock opened at $27.45 on Tuesday. 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 stock has a 50-day simple moving average of $27.32 and a 200 day simple moving average of $25.16. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03. The stock has a market capitalization of $197.50 billion, a P/E ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T’s dividend payout ratio (DPR) is 68.10%.

AT&T Profile

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.