Professional Advisory Services Inc. Decreases Position in AT&T Inc. (NYSE:T)

Professional Advisory Services Inc. trimmed its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 800,528 shares of the technology company's stock after selling 169,345 shares during the period. AT&T makes up 3.2% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 11th largest holding. Professional Advisory Services Inc.'s holdings in AT&T were worth $22,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Greenspring Advisors LLC purchased a new position in shares of AT&T during the first quarter valued at approximately $205,000. Miracle Mile Advisors LLC increased its holdings in AT&T by 8.2% during the first quarter. Miracle Mile Advisors LLC now owns 37,968 shares of the technology company's stock valued at $1,074,000 after buying an additional 2,890 shares during the last quarter. Charter Oak Capital Management LLC increased its stake in shares of AT&T by 2.7% in the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company's stock worth $431,000 after purchasing an additional 408 shares in the last quarter. Wedmont Private Capital increased its stake in shares of AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock worth $3,302,000 after purchasing an additional 9,027 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of AT&T by 1.9% in the first quarter. UMB Bank n.a. now owns 179,776 shares of the technology company's stock worth $5,084,000 after purchasing an additional 3,266 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

T stock opened at $28.09 on Friday. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $25.47. The firm has a market capitalization of $202.12 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on T shares. Wells Fargo & Company increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Barclays increased their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Morgan Stanley reissued an "overweight" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI increased their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.71.

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.

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