Checchi Capital Advisers LLC increased its stake in AT&T Inc. (NYSE:T) by 9.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 88,634 shares of the technology company’s stock after acquiring an additional 7,870 shares during the period. Checchi Capital Advisers LLC’s holdings in AT&T were worth $2,584,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in T. Norges Bank bought a new position in AT&T in the fourth quarter worth about $2,928,300,000. Nuveen Asset Management LLC raised its stake in AT&T by 18.4% in the fourth quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock worth $2,079,689,000 after buying an additional 8,261,619 shares in the last quarter. Geode Capital Management LLC raised its stake in AT&T by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 109,540,861 shares of the technology company’s stock worth $4,272,292,000 after buying an additional 4,091,166 shares in the last quarter. Unigestion Holding SA bought a new position in AT&T in the first quarter worth about $97,908,000. Finally, Cullen Capital Management LLC raised its stake in AT&T by 193.1% in the first quarter. Cullen Capital Management LLC now owns 5,000,808 shares of the technology company’s stock worth $145,774,000 after buying an additional 3,294,858 shares in the last quarter. 56.12% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on T shares. Nomura Securities decreased their price target on shares of AT&T from $44.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, March 30th. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Wells Fargo & Co cut their price objective on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, April 3rd. Credit Suisse Group cut their price objective on shares of AT&T from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.15.

In other AT&T news, Director Geoffrey Y. Yang purchased 6,754 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were acquired at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the transaction, the director now owns 9,398 shares of the company’s stock, valued at $276,207.22. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Luczo purchased 36,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.

Shares of AT&T stock opened at $28.31 on Friday. The company has a market cap of $203.35 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. The company’s 50 day moving average is $29.73 and its 200 day moving average is $35.65. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 22nd. The technology company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). The company had revenue of $42.78 billion for the quarter, compared to the consensus estimate of $44.75 billion. AT&T had a net margin of 8.05% and a return on equity of 13.27%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. Sell-side analysts expect that AT&T Inc. will post 3.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 9th were given a $0.52 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $2.08 annualized dividend and a yield of 7.35%. AT&T’s payout ratio is presently 58.26%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Featured Article: What is a Fiduciary?

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.