Douglas Lane & Associates LLC Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Douglas Lane & Associates LLC cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 62.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,079 shares of the technology company's stock after selling 173,338 shares during the quarter. Douglas Lane & Associates LLC's holdings in AT&T were worth $2,915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of AT&T during the 4th quarter worth $1,858,418,000. GQG Partners LLC raised its holdings 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its position in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after buying an additional 9,719,036 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Monday, April 7th. TD Securities increased their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Performance

Shares of T stock traded up $0.06 during trading hours on Tuesday, hitting $27.99. The company's stock had a trading volume of 26,081,577 shares, compared to its average volume of 36,692,554. The stock has a market cap of $201.42 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a 50 day moving average of $27.36 and a 200 day moving average of $25.35. AT&T Inc. has a 12-month low of $17.42 and a 12-month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, April 10th. AT&T's payout ratio is currently 68.10%.

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.