AT&T Inc. (NYSE:T) Holdings Reduced by Good Life Advisors LLC

Good Life Advisors LLC trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 29.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,615 shares of the technology company's stock after selling 44,022 shares during the quarter. Good Life Advisors LLC's holdings in AT&T were worth $2,930,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its holdings in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC lifted its position in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its stake in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AT&T during the 4th quarter valued at $1,858,418,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.5%

NYSE:T opened at $28.13 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03. The stock's 50-day moving average is $27.41 and its two-hundred day moving average is $25.66. The stock has a market cap of $202.43 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on T shares. Wells Fargo & Company raised their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Tigress Financial lifted their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Royal Bank of Canada increased their target price on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned 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 target price of $28.71.

AT&T Profile

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.

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