Fairfield Bush & CO. cut its position in AT&T Inc. (NYSE:T) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 62,059 shares of the technology company’s stock after selling 662 shares during the period. Fairfield Bush & CO.’s holdings in AT&T were worth $2,579,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. bought a new stake in AT&T during the first quarter worth approximately $104,000. Taylor Wealth Management Partners boosted its stake in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares in the last quarter. Asset Planning Services Ltd. boosted its stake in AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock worth $173,000 after buying an additional 877 shares in the last quarter. Israel Discount Bank of New York GFN bought a new stake in AT&T during the fourth quarter worth approximately $196,000. Finally, Toth Financial Advisory Corp bought a new stake in AT&T during the first quarter worth approximately $214,000. 55.29% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Inc. (NYSE:T) opened at 38.43 on Friday. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.48. The company has a market cap of $235.96 billion, a P/E ratio of 18.14 and a beta of 0.47. The stock has a 50 day moving average price of $37.65 and a 200 day moving average price of $39.78.

AT&T (NYSE:T) last issued its earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that AT&T Inc. will post $2.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.10%. AT&T’s payout ratio is 92.45%.

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Several equities research analysts recently commented on T shares. Royal Bank Of Canada set a $42.00 price objective on AT&T and gave the company a “hold” rating in a research report on Saturday, May 20th. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 price objective on the stock. in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price objective (down from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Zacks Investment Research raised AT&T from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AT&T in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and eleven have given a buy rating to the stock. AT&T presently has a consensus rating of “Hold” and a consensus target price of $43.40.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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