AT&T Inc. (NYSE:T) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,264,809 shares of the technology company’s stock after selling 66,497 shares during the period. ZWJ Investment Counsel Inc.’s holdings in AT&T were worth $35,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Resonant Capital Advisors LLC increased its position in shares of AT&T by 18.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 27,243 shares of the technology company’s stock valued at $770,000 after purchasing an additional 4,336 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of AT&T by 42.9% during the first quarter. Teacher Retirement System of Texas now owns 2,520,544 shares of the technology company’s stock worth $71,281,000 after purchasing an additional 756,291 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in AT&T by 1.0% in the first quarter. First Horizon Advisors Inc. now owns 989,360 shares of the technology company’s stock valued at $27,979,000 after buying an additional 9,734 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in AT&T by 2.0% in the first quarter. Strategic Financial Concepts LLC now owns 33,930 shares of the technology company’s stock valued at $926,000 after buying an additional 670 shares in the last quarter. Finally, Novem Group lifted its holdings in AT&T by 1.5% during the 1st quarter. Novem Group now owns 33,106 shares of the technology company’s stock worth $936,000 after buying an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $28.32 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm has a market cap of $203.78 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 4.10 and a beta of 0.42. The firm’s fifty day moving average price is $27.74 and its 200 day moving average price is $26.05. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on T. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Barclays upped their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

AT&T Company 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.