J.P. Marvel Investment Advisors LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,940 shares of the technology company’s stock after selling 3,055 shares during the period. AT&T comprises about 1.6% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 25th largest position. J.P. Marvel Investment Advisors LLC’s holdings in AT&T were worth $4,817,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in T. Norges Bank bought a new stake in shares of AT&T during the fourth quarter valued at $2,416,759,000. Schwab Charles Investment Management Inc. increased its stake in shares of AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after buying an additional 985,330 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock valued at $843,705,000 after buying an additional 1,139,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of AT&T by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock valued at $744,385,000 after buying an additional 143,884 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock valued at $578,861,000 after buying an additional 2,849,017 shares during the last quarter. Hedge funds and other institutional investors own 55.24% of the company’s stock.

AT&T Inc. (NYSE:T) traded up 0.118% on Wednesday, reaching $38.205. The company’s stock had a trading volume of 4,823,982 shares. The company has a market capitalization of $234.58 billion, a price-to-earnings ratio of 17.953 and a beta of 0.47. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.03. The firm’s 50 day moving average price is $37.59 and its 200-day moving average price is $39.56.

AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.49 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 5.14%. AT&T’s dividend payout ratio (DPR) is presently 92.45%.

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Several equities analysts have recently issued reports on the company. Vetr raised AT&T from a “hold” rating to a “buy” rating and set a $39.93 target price on the stock in a research note on Wednesday, May 24th. Barclays PLC reduced their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, July 14th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $42.00 price target on shares of AT&T in a research note on Sunday, July 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of AT&T in a research note on Wednesday, April 19th. Finally, ValuEngine cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus price target of $43.50.

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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