Rhumbline Advisers Sells 556,075 Shares of AT&T Inc. (NYSE:T)

Rhumbline Advisers decreased its position in AT&T Inc. (NYSE:T - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,949,497 shares of the technology company's stock after selling 556,075 shares during the period. Rhumbline Advisers owned approximately 0.18% of AT&T worth $366,212,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Consolidated Planning Corp increased its holdings in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after acquiring an additional 21,927 shares in the last quarter. Keystone Financial Group increased its holdings in AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. World Investment Advisors increased its holdings in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after acquiring an additional 63,359 shares in the last quarter. Fortress Financial Solutions LLC purchased a new stake in AT&T in the 4th quarter worth approximately $691,000. Finally, DigitalBridge Group Inc. increased its holdings in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Trading Down 0.9%

T stock traded down $0.26 during midday trading on Wednesday, reaching $27.70. The company's stock had a trading volume of 9,922,985 shares, compared to its average volume of 36,582,511. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a fifty day simple moving average of $27.36 and a two-hundred day simple moving average of $25.37. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The firm has a market capitalization of $199.32 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 3.00 and a beta of 0.41.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. AT&T's payout ratio is 68.10%.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

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.