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Guardian Investment Management Decreases Stock Holdings in AT&T Inc. (NYSE:T)

AT&T logo with Computer and Technology background

Guardian Investment Management lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,226 shares of the technology company's stock after selling 12,000 shares during the quarter. Guardian Investment Management's holdings in AT&T were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Norges Bank bought a new stake in AT&T in the fourth quarter worth $1,858,418,000. GQG Partners LLC lifted its holdings in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 period. Northern Trust Corp boosted its stake in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Finally, Assetmark Inc. grew its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.06 during mid-day trading on Tuesday, reaching $28.88. 25,973,823 shares of the company traded hands, compared to its average volume of 36,404,534. The company has a market capitalization of $207.81 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm's fifty day moving average is $27.68 and its two-hundred day moving average is $26.01. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.18.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is currently 68.10%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price objective on AT&T in a report on Thursday, April 24th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. TD Securities lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $28.90.

Get Our Latest Stock Analysis on AT&T

About AT&T

(Free Report)

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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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