Maia Wealth LLC Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• Maia Wealth LLC reduced its stake in AT&T by 60.7%, now holding 7,996 shares worth $217,000 after selling 12,363 shares in the first quarter.
• AT&T reported a net margin of 10.29% and earnings of $0.54 per share for the last quarter, surpassing estimates, with revenue of $30.85 billion.
• The company has a dividend yield of 3.9% and recently declared a quarterly dividend of $0.2775, contributing to a payout ratio of 63.07%.

Maia Wealth LLC decreased its position in AT&T Inc. (NYSE:T - Free Report) by 60.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,996 shares of the technology company's stock after selling 12,363 shares during the quarter. Maia Wealth LLC's holdings in AT&T were worth $217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Capital World Investors raised its holdings in shares of AT&T by 5.2% during the fourth quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock valued at $1,307,576,000 after purchasing an additional 2,841,837 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 purchasing an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company's stock valued at $1,184,717,000 after purchasing an additional 2,992,073 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on T shares. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

AT&T Trading Up 1.3%

T traded up $0.36 during mid-day trading on Thursday, hitting $28.76. 24,523,413 shares of the stock were exchanged, compared to its average volume of 37,456,629. The firm's fifty day moving average is $27.87 and its two-hundred day moving average is $27.13. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market cap of $205.61 billion, a PE ratio of 16.34, a PEG ratio of 3.53 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is presently 63.07%.

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.