EP Wealth Advisors LLC Has $3.08 Million Position in AT&T Inc. (NYSE:T)

EP Wealth Advisors LLC lessened its holdings in shares of AT&T Inc. (NYSE:TGet Rating) by 9.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 130,133 shares of the technology company’s stock after selling 13,121 shares during the period. EP Wealth Advisors LLC’s holdings in AT&T were worth $3,075,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of T. Bailard Inc. grew its holdings in shares of AT&T by 19.1% in the 1st quarter. Bailard Inc. now owns 12,407 shares of the technology company’s stock valued at $293,000 after buying an additional 1,994 shares during the period. CAPROCK Group Inc. grew its holdings in shares of AT&T by 55.2% in the 1st quarter. CAPROCK Group Inc. now owns 51,579 shares of the technology company’s stock valued at $1,219,000 after buying an additional 18,347 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of AT&T by 8.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company’s stock valued at $11,435,000 after buying an additional 37,205 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of AT&T by 1.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 67,128 shares of the technology company’s stock valued at $1,586,000 after buying an additional 1,152 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of AT&T by 1.6% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 108,402 shares of the technology company’s stock valued at $2,562,000 after buying an additional 1,682 shares during the period. Institutional investors and hedge funds own 52.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on T shares. Truist Financial decreased their price target on shares of AT&T to $21.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of AT&T from $24.00 to $22.00 in a research report on Friday, July 22nd. Cowen cut their price objective on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, July 22nd. Barclays cut shares of AT&T from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Friday, July 22nd. Finally, Wells Fargo & Company cut their price objective on shares of AT&T to $22.00 in a research report on Friday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.78.

AT&T Stock Down 0.4 %

Shares of T stock opened at $16.77 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. The firm’s 50-day moving average is $18.58 and its 200-day moving average is $20.36. The stock has a market cap of $119.50 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 1.99 and a beta of 0.48. AT&T Inc. has a 52-week low of $16.62 and a 52-week high of $21.53.

AT&T (NYSE:TGet Rating) last issued its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $29.64 billion for the quarter, compared to analysts’ expectations of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. AT&T’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. Sell-side analysts predict that AT&T Inc. will post 2.53 EPS for the current year.

AT&T Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.62%. AT&T’s payout ratio is 40.81%.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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