AT&T Inc. (NYSE:T) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,394,186 shares of the technology company's stock after selling 257,179 shares during the period. Victory Capital Management Inc.'s holdings in AT&T were worth $95,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Next Level Private LLC grew its position in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its stake in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares in the last quarter. Kozak & Associates Inc. boosted its stake in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its position in shares of AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after purchasing an additional 399 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on T shares. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. 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. Finally, Evercore ISI lifted their target price on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $29.17.

AT&T Stock Performance

NYSE T traded down $0.07 during trading hours on Friday, hitting $26.92. 27,403,482 shares of the stock were exchanged, compared to its average volume of 36,379,902. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The company has a market cap of $193.71 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.19. The stock has a 50-day moving average of $27.76 and a 200 day moving average of $26.41.

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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business 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 company's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is currently 68.10%.

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.