Allianz SE Buys Shares of 339,778 AT&T Inc. (NYSE:T)

Allianz SE purchased a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 339,778 shares of the technology company's stock, valued at approximately $7,683,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its position in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. GQG Partners LLC increased its stake in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after acquiring an additional 5,649,277 shares during the period. Finally, Norges Bank bought a new position in AT&T during the fourth quarter worth $1,858,418,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a report on Thursday, February 13th. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an "outperform" rating and a $28.00 target price on the stock. Finally, Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

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AT&T Stock Performance

T traded up $0.25 on Tuesday, hitting $28.53. The company's stock had a trading volume of 20,123,318 shares, compared to its average volume of 36,184,585. The company's 50 day simple moving average is $25.82 and its 200-day simple moving average is $23.59. 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 $15.94 and a 12 month high of $28.61. The firm has a market cap of $204.76 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company 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. This represents a $1.11 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's payout ratio is 74.50%.

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.