Cypress Wealth Services LLC Has $216,000 Stock Position in AT&T Inc. (NYSE:T)

Cypress Wealth Services LLC increased its position in shares of AT&T Inc. (NYSE:T) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,276 shares of the technology company’s stock after purchasing an additional 1,220 shares during the quarter. Cypress Wealth Services LLC’s holdings in AT&T were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new stake in AT&T during the 4th quarter worth about $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T in the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of AT&T in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock traded down $0.01 during trading on Thursday, reaching $18.76. The company’s stock had a trading volume of 28,909,695 shares, compared to its average volume of 36,762,355. The business’s 50-day moving average price is $17.47 and its 200-day moving average price is $17.14. The firm has a market cap of $134.48 billion, a PE ratio of 10.04, a P/E/G ratio of 4.25 and a beta of 0.60. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.81. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, April 29th. Oppenheimer reissued an “outperform” rating and set a $21.00 price objective on shares of AT&T in a research note on Tuesday. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Finally, Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.54.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.