Silvercrest Asset Management Group LLC Reduces Position in AT&T Inc. (NYSE:T)

Silvercrest Asset Management Group LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 25.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,315 shares of the technology company's stock after selling 19,219 shares during the period. Silvercrest Asset Management Group LLC's holdings in AT&T were worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in T. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth $25,000. Marshall Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter worth $28,000. Tradewinds Capital Management LLC boosted its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of AT&T in the 4th quarter worth $30,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the 4th quarter worth $34,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Citigroup restated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Tigress Financial lifted their target price on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Barclays lifted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Price Performance

NYSE:T traded down $0.25 on Thursday, reaching $27.22. 25,858,019 shares of the company's stock traded hands, compared to its average volume of 36,766,433. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a 50-day simple moving average of $27.28 and a 200-day simple moving average of $25.01. The firm has a market cap of $195.86 billion, a PE ratio of 18.27, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released 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). 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 was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.08%. AT&T's dividend payout ratio is currently 68.10%.

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.