Chicago Capital LLC Trims Position in AT&T Inc. (NYSE:T)

Chicago Capital LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 1.7% during the first quarter, Holdings Channel.com reports. The fund owned 35,605 shares of the technology company’s stock after selling 599 shares during the period. Chicago Capital LLC’s holdings in AT&T were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in AT&T in the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC purchased a new stake in AT&T during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter worth about $28,000. Finally, Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $27.65 on Wednesday. The company has a 50 day moving average price of $27.47 and a 200-day moving average price of $25.71. AT&T Inc. has a 1-year low of $17.86 and a 1-year high of $29.03. The firm has a market cap of $198.92 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 3.89 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analyst Ratings Changes

Several analysts have recently weighed in on T shares. Williams Trading set a $30.00 target price on AT&T in a research report on Thursday, April 24th. Royal Bank Of Canada upped their target price on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

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.