AT&T Inc. (NYSE:T) Position Cut by World Investment Advisors

World Investment Advisors lowered its position in AT&T Inc. (NYSE:T - Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,687 shares of the technology company's stock after selling 54,790 shares during the quarter. World Investment Advisors' holdings in AT&T were worth $5,166,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of T. Minot DeBlois Advisors LLC acquired a new position in AT&T in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter valued at approximately $27,000. Ball & Co Wealth Management Inc. purchased a new position in shares of AT&T in the fourth quarter valued at approximately $30,000. Finally, REAP Financial Group LLC boosted its stake in shares of AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.1%

Shares of AT&T stock traded up $0.02 on Friday, hitting $28.33. 21,085,177 shares of the company's stock traded hands, compared to its average volume of 36,496,958. The firm's 50-day moving average is $27.79 and its 200 day moving average is $26.15. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The stock has a market cap of $203.82 billion, a P/E ratio of 17.38, a PEG ratio of 4.02 and a beta of 0.42. 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 (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 13.63% and a net margin of 9.64%. The firm 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 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Thursday, July 10th. AT&T's payout ratio is 68.10%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on T shares. Oppenheimer raised their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price target 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. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $28.90.

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.