AT&T Inc. (NYSE:T) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 929,474 shares of the technology company's stock after selling 14,436 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AT&T were worth $26,286,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in T. Brighton Jones LLC boosted its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. Versor Investments LP purchased a new position in shares of AT&T in the fourth quarter valued at approximately $381,000. Maia Wealth LLC acquired a new stake in shares of AT&T in the fourth quarter worth approximately $491,000. Bridges Investment Management Inc. boosted its stake in shares of AT&T by 3.8% in the fourth quarter. Bridges Investment Management Inc. now owns 41,986 shares of the technology company's stock worth $956,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of AT&T during the fourth quarter worth approximately $75,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.2%

Shares of T traded down $0.06 during trading on Tuesday, reaching $28.88. 25,973,823 shares of the company traded hands, compared to its average volume of 36,404,535. The stock has a 50-day simple moving average of $27.68 and a 200-day simple moving average of $26.01. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.18. The stock has a market cap of $207.81 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 3.98 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the firm 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 year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. Oppenheimer raised their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Wells Fargo & Company boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. TD Securities raised their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Barclays upped their price target on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.90.

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.