Financial & Tax Architects LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Financial & Tax Architects LLC cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 97.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,232 shares of the technology company's stock after selling 262,480 shares during the period. Financial & Tax Architects LLC's holdings in AT&T were worth $205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the last quarter. Norges Bank bought a new position in shares of AT&T in the 4th quarter valued at about $1,858,418,000. Northern Trust Corp increased its position in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Capital World Investors raised its holdings in AT&T by 5.2% during the fourth quarter. Capital World Investors now owns 57,425,387 shares of the technology company's stock worth $1,307,576,000 after acquiring an additional 2,841,837 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AT&T by 31.8% during the 4th 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. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Evercore ISI raised their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Tigress Financial raised their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group reiterated a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.37.

AT&T Stock Up 0.3%

Shares of NYSE T traded up $0.10 during mid-day trading on Friday, hitting $28.02. The company had a trading volume of 33,981,327 shares, compared to its average volume of 38,187,047. The company has a market capitalization of $201.58 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.65. AT&T Inc. has a 1-year low of $18.64 and a 1-year high of $29.19. The business's 50-day simple moving average is $27.80 and its 200 day simple moving average is $26.58.

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

AT&T Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.96%. 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.