Financial Architects Inc lessened its stake in shares of AT&T Inc. (NYSE:T) by 4.9% during the 1st quarter, HoldingsChannel reports. The firm owned 45,632 shares of the technology company’s stock after selling 2,373 shares during the quarter. Financial Architects Inc’s holdings in AT&T were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Garrett Wealth Advisory Group LLC lifted its holdings in shares of AT&T by 2.0% during the fourth quarter. Garrett Wealth Advisory Group LLC now owns 13,307 shares of the technology company’s stock valued at $520,000 after acquiring an additional 263 shares during the period. FCA Corp TX lifted its holdings in shares of AT&T by 4.2% during the fourth quarter. FCA Corp TX now owns 6,685 shares of the technology company’s stock valued at $261,000 after acquiring an additional 272 shares during the period. Hurlow Wealth Management Group Inc. lifted its holdings in shares of AT&T by 2.7% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 10,978 shares of the technology company’s stock valued at $416,000 after acquiring an additional 292 shares during the period. Cibc Bank USA lifted its holdings in shares of AT&T by 0.9% during the fourth quarter. Cibc Bank USA now owns 33,133 shares of the technology company’s stock valued at $1,295,000 after acquiring an additional 299 shares during the period. Finally, American Asset Management Inc. lifted its holdings in shares of AT&T by 1.1% during the fourth quarter. American Asset Management Inc. now owns 27,063 shares of the technology company’s stock valued at $1,058,000 after acquiring an additional 300 shares during the period. Institutional investors own 56.12% of the company’s stock.

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

AT&T stock traded down $0.27 during trading hours on Friday, hitting $28.31. The stock had a trading volume of 32,221,786 shares, compared to its average volume of 35,035,764. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75. The stock has a market cap of $203.35 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.64 and a beta of 0.72. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The business’s 50 day simple moving average is $29.73 and its 200-day simple moving average is $35.65.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 22nd. The technology company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $42.78 billion during 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%. AT&T’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. Research analysts anticipate that AT&T Inc. will post 3.29 EPS for the current fiscal year.

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

A number of research analysts have issued reports on the company. Cowen cut AT&T from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $43.00 to $37.00 in a report on Monday, March 23rd. Argus restated a “buy” rating on shares of AT&T in a research note on Friday, March 27th. Citigroup lowered their target price on AT&T from $42.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Cfra lowered their target price on AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, UBS Group lowered their target price on AT&T from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.15.

AT&T Profile

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.

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

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