AT&T Inc. (NYSE:T) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its position in AT&T Inc. (NYSE:T - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,560 shares of the technology company's stock after selling 72,462 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in AT&T were worth $5,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of AT&T during the fourth quarter worth about $1,858,418,000. GQG Partners LLC grew its holdings in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp boosted its stake in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after buying an additional 9,719,036 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of 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 increased their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. TD Securities raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.71.

AT&T Trading Down 0.1%

T stock traded down $0.03 during midday trading on Tuesday, hitting $27.39. The stock had a trading volume of 33,305,162 shares, compared to its average volume of 36,796,935. The firm has a market cap of $197.09 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 12-month low of $17.11 and a 12-month high of $29.03. The company's 50-day moving average price is $27.32 and its 200 day moving average price is $25.16.

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 (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 analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's payout ratio is currently 68.10%.

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.