International Assets Investment Management LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

International Assets Investment Management LLC cut its stake in AT&T Inc. (NYSE:T - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 584,837 shares of the technology company's stock after selling 60,755 shares during the quarter. AT&T makes up approximately 0.5% of International Assets Investment Management LLC's investment portfolio, making the stock its 15th largest position. International Assets Investment Management LLC's holdings in AT&T were worth $16,539,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Balboa Wealth Partners lifted its holdings in AT&T by 2.2% during the first quarter. Balboa Wealth Partners now owns 41,973 shares of the technology company's stock valued at $1,187,000 after purchasing an additional 911 shares in the last quarter. Retirement Guys Formula LLC lifted its stake in AT&T by 6.9% in the 1st quarter. Retirement Guys Formula LLC now owns 9,850 shares of the technology company's stock valued at $279,000 after buying an additional 632 shares in the last quarter. St. Johns Investment Management Company LLC boosted its holdings in AT&T by 5.2% in the 1st quarter. St. Johns Investment Management Company LLC now owns 31,254 shares of the technology company's stock worth $884,000 after buying an additional 1,554 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of AT&T during the first quarter valued at approximately $236,000. Finally, Integris Wealth Management LLC purchased a new position in shares of AT&T in the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Down 1.2%

AT&T stock traded down $0.35 during mid-day trading on Wednesday, reaching $27.93. 26,183,730 shares of the company's stock were exchanged, compared to its average volume of 36,471,619. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.03. The company has a market cap of $200.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 4.00 and a beta of 0.41. The company has a fifty day moving average of $27.57 and a 200-day moving average of $25.86.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.97%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Securities increased their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Royal Bank Of Canada upped their price objective 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. Wells Fargo & Company raised their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.76.

AT&T Company 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.