Oppenheimer Asset Management Inc. Sells 20,451 Shares of AT&T Inc. (NYSE:T)

Oppenheimer Asset Management Inc. lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,611,639 shares of the technology company's stock after selling 20,451 shares during the period. AT&T makes up approximately 0.6% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 29th biggest position. Oppenheimer Asset Management Inc.'s holdings in AT&T were worth $45,577,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in T. EQ Wealth Advisors LLC acquired a new position in AT&T during the 1st quarter worth $78,000. Continuum Advisory LLC increased its stake in shares of AT&T by 32.9% in the first quarter. Continuum Advisory LLC now owns 48,376 shares of the technology company's stock worth $1,368,000 after purchasing an additional 11,977 shares during the period. Palumbo Wealth Management LLC lifted its position in shares of AT&T by 15.8% during the 1st quarter. Palumbo Wealth Management LLC now owns 12,246 shares of the technology company's stock worth $346,000 after purchasing an additional 1,675 shares during the last quarter. TrueMark Investments LLC boosted its stake in AT&T by 271.3% during the 1st quarter. TrueMark Investments LLC now owns 439,897 shares of the technology company's stock valued at $12,440,000 after purchasing an additional 321,434 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in AT&T by 10.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 75,763 shares of the technology company's stock valued at $2,143,000 after purchasing an additional 6,888 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

T stock traded up $0.12 during trading on Thursday, hitting $28.04. 25,111,336 shares of the stock traded hands, compared to its average volume of 36,461,065. The stock has a market cap of $201.73 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.96 and a beta of 0.41. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. 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 company has a 50 day simple moving average of $27.61 and a 200 day simple moving average of $25.91.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given 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 payout ratio is 68.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on T shares. Wells Fargo & Company lifted their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 target price on shares of AT&T in a research report on Thursday, April 24th. 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. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $28.00 to $31.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.76.

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.