AT&T Inc. (NYSE:T) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,006,647 shares of the technology company's stock after selling 38,992 shares during the period. M&T Bank Corp's holdings in AT&T were worth $28,468,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Keystone Financial Group grew its holdings in AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new position in AT&T during the 1st quarter worth approximately $201,000. World Investment Advisors boosted its holdings in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after buying an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. boosted its holdings in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after buying an additional 365,776 shares in the last quarter. Finally, Huber Capital Management LLC boosted its holdings in shares of AT&T by 2.7% in the 4th quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company's stock valued at $13,161,000 after buying an additional 15,000 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.9%

Shares of NYSE T traded down $0.24 during midday trading on Thursday, reaching $27.58. 9,026,093 shares of the stock were exchanged, compared to its average volume of 36,366,996. The company has a market capitalization of $198.43 billion, a P/E ratio of 16.94, a P/E/G ratio of 3.53 and a beta of 0.42. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $27.84 and a 200-day moving average price of $26.24.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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 firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. 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 given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.03%. AT&T's payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. UBS Group reiterated a "buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $29.10.

AT&T 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.