TD Private Client Wealth LLC Sells 43,614 Shares of AT&T Inc. (NYSE:T)

TD Private Client Wealth LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 130,632 shares of the technology company's stock after selling 43,614 shares during the period. TD Private Client Wealth LLC's holdings in AT&T were worth $3,694,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in AT&T by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,998,517 shares of the technology company's stock worth $367,598,000 after buying an additional 651,813 shares during the period. Traveka Wealth LLC increased its stake in shares of AT&T by 4.5% in the 1st quarter. Traveka Wealth LLC now owns 11,088 shares of the technology company's stock valued at $314,000 after acquiring an additional 478 shares in the last quarter. Tradewinds LLC. grew its stake in AT&T by 5.3% in the first quarter. Tradewinds LLC. now owns 36,776 shares of the technology company's stock valued at $1,040,000 after acquiring an additional 1,837 shares during the period. Cloud Capital Management LLC bought a new stake in shares of AT&T during the first quarter worth about $54,000. Finally, Jackson Wealth Management LLC purchased a new position in shares of AT&T during the first quarter valued at approximately $507,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Down 0.6%

Shares of AT&T stock traded down $0.18 during trading hours on Wednesday, hitting $28.11. 34,408,206 shares of the company's stock traded hands, compared to its average volume of 36,473,933. 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 $29.19. The stock has a 50 day simple moving average of $27.83 and a 200-day simple moving average of $26.23. The company has a market cap of $202.27 billion, a PE ratio of 17.25, a PEG ratio of 3.53 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its 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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the previous year, the business posted $0.55 EPS. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate 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 will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on T shares. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Barclays raised their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $29.05.

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.