Patriot Financial Group Insurance Agency LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Patriot Financial Group Insurance Agency LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 34.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,665 shares of the technology company's stock after selling 13,699 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in AT&T were worth $726,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in T. Norges Bank bought a new position in shares of AT&T in the fourth quarter worth $1,858,418,000. GQG Partners LLC lifted its stake 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 valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AT&T by 31.8% during the fourth 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 valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Northern Trust Corp lifted its position in AT&T by 16.3% in the 4th 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 in the last quarter. Finally, Assetmark Inc. boosted its holdings in AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Down 0.3%

AT&T stock traded down $0.09 during midday trading on Thursday, reaching $28.25. The stock had a trading volume of 23,283,172 shares, compared to its average volume of 36,638,457. The firm has a market cap of $203.28 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a fifty day moving average of $27.35 and a 200 day moving average of $25.56.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period last year, the company earned $0.55 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Royal Bank of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Monday, April 7th. Finally, Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

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.