ZWJ Investment Counsel Inc. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

ZWJ Investment Counsel Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in AT&T during the fourth quarter valued at $27,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T in the fourth quarter valued at about $30,000. Finally, REAP Financial Group LLC increased its stake in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Royal Bank Of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Evercore ISI lifted their price target on AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Oppenheimer increased their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.90.

AT&T Stock Performance

NYSE T opened at $28.32 on Thursday. The stock has a fifty day simple moving average of $27.74 and a 200-day simple moving average of $26.05. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The stock has a market cap of $203.78 billion, a PE ratio of 17.37, a P/E/G ratio of 4.10 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19.

AT&T (NYSE:T) last announced 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). The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

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.