Laird Norton Wetherby Wealth Management LLC Sells 24,153 Shares of AT&T Inc. (NYSE:T)

Laird Norton Wetherby Wealth Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,739 shares of the technology company's stock after selling 24,153 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in AT&T were worth $2,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Vanguard Group Inc. increased its stake in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC increased its stake in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its stake in 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 purchasing an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Finally, Norges Bank purchased a new position in AT&T in the 4th quarter worth about $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on T. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Oppenheimer lifted their target price on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Finally, Sanford C. Bernstein lifted their target price on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Performance

T traded up $0.87 on Thursday, hitting $27.31. The company had a trading volume of 35,254,830 shares, compared to its average volume of 36,735,053. The company's fifty day moving average price is $27.15 and its 200 day moving average price is $24.83. AT&T Inc. has a 1-year low of $17.11 and a 1-year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $196.51 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.06%. AT&T's dividend payout ratio (DPR) is presently 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.