EP Wealth Advisors LLC Decreases Position in AT&T Inc. $T

EP Wealth Advisors LLC trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,053 shares of the technology company's stock after selling 13,226 shares during the period. EP Wealth Advisors LLC's holdings in AT&T were worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC grew its stake in AT&T by 23.2% in the 1st quarter. Ashton Thomas Securities LLC now owns 59,330 shares of the technology company's stock valued at $1,678,000 after buying an additional 11,160 shares in the last quarter. First Manhattan CO. LLC. grew its stake in AT&T by 8.0% in the 1st quarter. First Manhattan CO. LLC. now owns 67,340 shares of the technology company's stock valued at $1,904,000 after buying an additional 4,995 shares in the last quarter. 1248 Management LLC purchased a new position in AT&T in the 1st quarter valued at approximately $41,000. Maverick Capital Ltd. purchased a new position in AT&T in the 1st quarter valued at approximately $681,000. Finally, Focus Partners Advisor Solutions LLC grew its stake in AT&T by 1.0% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 132,714 shares of the technology company's stock valued at $3,753,000 after buying an additional 1,379 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $29.07 on Wednesday. AT&T Inc. has a 52-week low of $19.92 and a 52-week high of $29.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $207.86 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a fifty day moving average of $28.15 and a 200-day moving average of $27.57.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. UBS Group reiterated a "buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Raymond James Financial restated a "strong-buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday. They set a "buy" rating and a $32.00 price target for the company. Finally, Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.40.

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.

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