AT&T Inc. (NYSE:T) Shares Sold by Allegheny Financial Group

Allegheny Financial Group reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,208 shares of the technology company's stock after selling 9,513 shares during the quarter. Allegheny Financial Group's holdings in AT&T were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC grew its holdings in AT&T by 28.4% during the 3rd quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company's stock valued at $3,831,000 after buying an additional 38,548 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of AT&T by 386.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company's stock valued at $5,864,000 after acquiring an additional 211,723 shares during the last quarter. Destination Wealth Management purchased a new position in AT&T in the 3rd quarter valued at about $240,000. Tidal Investments LLC boosted its stake in shares of AT&T by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company's stock worth $14,096,000 after purchasing an additional 10,954 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on T. Cowen restated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Wells Fargo & Company lifted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Finally, Oppenheimer lifted their price target on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

AT&T Stock Performance

Shares of NYSE:T traded down $0.09 during trading on Monday, reaching $27.52. 21,330,598 shares of the company's stock traded hands, compared to its average volume of 36,354,081. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a 50 day moving average of $27.06 and a 200-day moving average of $24.56. AT&T Inc. has a 12 month low of $16.91 and a 12 month high of $29.03. The stock has a market capitalization of $198.02 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

About AT&T

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.