Chapin Davis Inc. Sells 2,213 Shares of AT&T Inc. (NYSE:T)

Chapin Davis Inc. lowered its position in AT&T Inc. (NYSE:T) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,265 shares of the technology company’s stock after selling 2,213 shares during the quarter. Chapin Davis Inc.’s holdings in AT&T were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

AT&T Price Performance

NYSE:T traded up $0.08 during mid-day trading on Monday, reaching $19.19. The stock had a trading volume of 1,911,715 shares, compared to its average volume of 36,623,863. The firm has a 50 day moving average price of $17.57 and a two-hundred day moving average price of $17.18. The stock has a market capitalization of $137.60 billion, a P/E ratio of 10.32, a P/E/G ratio of 4.34 and a beta of 0.58. AT&T Inc. has a one year low of $13.43 and a one year high of $19.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.78%. AT&T’s payout ratio is currently 59.68%.

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group began coverage on AT&T in a research note on Monday. They set a “buy” rating and a $22.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.73.

About AT&T

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.