Cypress Capital LLC Makes New Investment in AT&T Inc. (NYSE:T)

Cypress Capital LLC acquired a new position in shares of AT&T Inc. (NYSE:T – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,656 shares of the technology company’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SWS Partners acquired a new stake in shares of AT&T during the first quarter worth $25,000. KRS Capital Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of AT&T during the first quarter worth $27,000. Missouri Trust & Investment Co acquired a new stake in shares of AT&T during the fourth quarter worth $34,000. Finally, SBK Financial Inc. acquired a new stake in shares of AT&T during the fourth quarter worth $35,000. 53.47% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of T opened at $18.35 on Friday. AT&T Inc. has a 52-week low of $16.62 and a 52-week high of $21.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.65 and a current ratio of 0.72. The business’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $21.67. The firm has a market cap of $131.37 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 1.98 and a beta of 0.47.

AT&T (NYSE:T – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.09% and a net margin of 13.41%. The firm had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was down 17.1% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.51 EPS for the current year.

AT&T Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Friday, July 8th. AT&T’s payout ratio is 40.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on T shares. Citigroup dropped their target price on AT&T from $28.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Royal Bank of Canada dropped their price target on AT&T from $30.00 to $20.00 and set a “sector perform” rating for the company in a research note on Monday, April 25th. Barclays downgraded AT&T from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $34.00 to $22.00 in a research note on Monday, April 11th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Hold” and a consensus price target of $23.89.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.