Cypress Wealth Services LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Cypress Wealth Services LLC lessened its stake in AT&T Inc. (NYSE:T) by 18.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,416 shares of the technology company’s stock after selling 7,376 shares during the quarter. Cypress Wealth Services LLC’s holdings in AT&T were worth $1,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Surevest Inc. grew its holdings in shares of AT&T by 26.9% during the fourth quarter. Surevest Inc. now owns 58,405 shares of the technology company’s stock worth $2,282,000 after buying an additional 12,375 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new stake in shares of AT&T during the fourth quarter worth $3,468,000. Beirne Wealth Consulting Services LLC grew its holdings in shares of AT&T by 4.9% during the fourth quarter. Beirne Wealth Consulting Services LLC now owns 16,793 shares of the technology company’s stock worth $656,000 after buying an additional 784 shares in the last quarter. Winfield Associates Inc. purchased a new stake in shares of AT&T during the fourth quarter worth $158,000. Finally, Patten & Patten Inc. TN grew its holdings in shares of AT&T by 1.7% during the fourth quarter. Patten & Patten Inc. TN now owns 509,724 shares of the technology company’s stock worth $19,920,000 after buying an additional 8,393 shares in the last quarter. 53.60% of the stock is owned by institutional investors.

Shares of T opened at $38.10 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79. The firm has a market cap of $278.32 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The company’s 50 day simple moving average is $38.50 and its 200-day simple moving average is $36.71. AT&T Inc. has a 12-month low of $28.92 and a 12-month high of $39.70.

AT&T (NYSE:T) last announced its earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The business had revenue of $44.59 billion for the quarter, compared to analyst estimates of $45.45 billion. During the same period last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 3.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.52 dividend. This is a boost from AT&T’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.46%. AT&T’s dividend payout ratio is presently 59.09%.

T has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. SunTrust Banks increased their price target on shares of AT&T to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Tigress Financial reissued a “buy” rating on shares of AT&T in a research report on Friday, January 3rd. UBS Group increased their price target on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein began coverage on shares of AT&T in a research report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.22.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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