Moloney Securities Asset Management LLC Sells 22,144 Shares of AT&T Inc. (NYSE:T)

Moloney Securities Asset Management LLC cut its stake in AT&T Inc. (NYSE:T) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,313 shares of the technology company’s stock after selling 22,144 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AT&T were worth $2,271,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Core Alternative Capital grew its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $27,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $30,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several research reports. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Evercore ISI increased their price objective on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. Finally, Barclays increased their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.05.

AT&T Trading Down 0.5%

Shares of T stock opened at $28.16 on Wednesday. The company has a market cap of $202.64 billion, a P/E ratio of 17.26, a PEG ratio of 4.67 and a beta of 0.42. The stock has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $26.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week 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 analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.94%. AT&T’s dividend payout ratio is 68.10%.

About AT&T

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.