AT&T Inc. (NYSE:T) Position Trimmed by Arnhold LLC

Arnhold LLC decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,605,446 shares of the technology company's stock after selling 149,627 shares during the period. AT&T accounts for about 3.6% of Arnhold LLC's holdings, making the stock its 4th biggest holding. Arnhold LLC's holdings in AT&T were worth $36,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter valued at about $14,700,000. Franklin Resources Inc. raised its holdings in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Consolidated Planning Corp lifted its position in shares of AT&T by 7.4% during the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after purchasing an additional 21,927 shares in the last quarter. Keystone Financial Group boosted its holdings in AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after purchasing an additional 143,744 shares during the last quarter. Finally, World Investment Advisors boosted its stake in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after buying an additional 63,359 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 2.7 %

Shares of T stock traded down $0.73 during mid-day trading on Friday, reaching $26.80. 37,042,995 shares of the company's stock traded hands, compared to its average volume of 36,505,396. The company has a market cap of $192.38 billion, a P/E ratio of 17.99, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $16.73 and a 12 month high of $29.03. The company's 50-day moving average price is $26.96 and its 200-day moving average price is $24.33.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.14%. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and an average price target of $28.62.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.