GWM Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,156 shares of the technology company’s stock after selling 5,072 shares during the period. GWM Advisors LLC’s holdings in AT&T were worth $2,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Taylor Wealth Management Partners raised its holdings in AT&T by 0.4% in the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after acquiring an additional 11 shares during the last quarter. Cornerstone Investment Partners LLC raised its holdings in AT&T by 0.3% in the 1st quarter. Cornerstone Investment Partners LLC now owns 9,584 shares of the technology company’s stock worth $398,000 after acquiring an additional 30 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in AT&T by 0.9% in the 1st quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock worth $228,000 after acquiring an additional 50 shares during the last quarter. Lathrop Investment Management Corp raised its holdings in AT&T by 0.3% in the 1st quarter. Lathrop Investment Management Corp now owns 24,960 shares of the technology company’s stock worth $1,037,000 after acquiring an additional 73 shares during the last quarter. Finally, Gillespie Robinson & Grimm Inc. raised its holdings in AT&T by 1.3% in the 1st quarter. Gillespie Robinson & Grimm Inc. now owns 7,963 shares of the technology company’s stock worth $331,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 55.01% of the company’s stock.

Shares of AT&T Inc. (NYSE:T) traded down 0.70% on Wednesday, reaching $36.83. 7,611,742 shares of the company traded hands. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.03. The stock has a market capitalization of $226.14 billion, a price-to-earnings ratio of 17.31 and a beta of 0.49. The company has a 50-day moving average of $37.80 and a 200-day moving average of $39.18.

AT&T (NYSE:T) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business had revenue of $39.84 billion for the quarter, compared to analyst estimates of $39.84 billion. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post $2.94 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on T shares. Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 target price on shares of AT&T in a research note on Sunday, July 9th. Tigress Financial upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 9th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 target price for the company in a research note on Monday, July 10th. Zacks Investment Research lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twenty have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.41.

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About AT&T

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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