Fiduciary Group LLC Has $2.19 Million Stock Holdings in AT&T Inc. (NYSE:T)

Fiduciary Group LLC reduced its position in AT&T Inc. (NYSE:T - Free Report) by 33.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,331 shares of the technology company's stock after selling 66,621 shares during the quarter. Fiduciary Group LLC's holdings in AT&T were worth $2,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carmel Capital Partners LLC boosted its stake in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company's stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton acquired a new position in AT&T in the third quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the third quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock valued at $39,000 after acquiring an additional 606 shares during the period. Finally, Financial Gravity Asset Management Inc. boosted its stake in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company's stock valued at $41,000 after acquiring an additional 2,626 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. StockNews.com raised AT&T from a "hold" rating to a "buy" rating in a report on Thursday. Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Oppenheimer raised AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Finally, Scotiabank increased their price objective on AT&T from $22.00 to $22.50 and gave the stock a "sector outperform" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $20.81.

AT&T Stock Up 1.0 %

Shares of NYSE:T traded up $0.17 during midday trading on Friday, hitting $16.75. 37,852,681 shares of the stock were exchanged, compared to its average volume of 39,190,348. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The business's fifty day simple moving average is $16.96 and its two-hundred day simple moving average is $16.58. The company has a market capitalization of $119.81 billion, a PE ratio of 9.01, a P/E/G ratio of 2.53 and a beta of 0.57.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company earned $0.60 earnings per share. AT&T's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Tuesday, April 9th. AT&T's dividend payout ratio is currently 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.