Trust Point Inc. Sells 11,347 Shares of AT&T Inc. (NYSE:T)

Trust Point Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 20.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,565 shares of the technology company's stock after selling 11,347 shares during the quarter. Trust Point Inc.'s holdings in AT&T were worth $1,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth $1,858,418,000. GQG Partners LLC grew 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 worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AT&T by 31.8% in the 4th 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Northern Trust Corp grew its stake in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Trading Down 0.5%

Shares of AT&T stock opened at $28.13 on Monday. AT&T Inc. has a 12-month low of $17.49 and a 12-month high of $29.03. The company has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $27.41 and its 200-day moving average price is $25.66.

AT&T (NYSE:T - Get Free Report) last announced its quarterly 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 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 analysts' expectations of $30.39 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Barclays increased their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company 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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