Russell Investments Group Ltd. lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,044,177 shares of the technology company's stock after acquiring an additional 2,007,923 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of AT&T worth $274,207,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its position in AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC raised its stake in AT&T by 37.3% during 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 buying an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 buying an additional 5,649,277 shares during the period. Finally, Norges Bank bought a new position in shares of AT&T during the 4th quarter valued at $1,858,418,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Price Performance
NYSE T traded down $0.50 during trading hours on Tuesday, reaching $26.34. The company's stock had a trading volume of 48,017,996 shares, compared to its average volume of 36,681,135. 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 1 year low of $15.94 and a 1 year high of $29.03. The firm's 50-day moving average price is $26.31 and its 200-day moving average price is $23.80. The company has a market capitalization of $189.04 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.00 and a beta of 0.42.
AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.21%. AT&T's payout ratio is 74.50%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on T shares. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Thursday, January 16th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Oppenheimer boosted their target price on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.21.
Get Our Latest Analysis on AT&T
About AT&T
(
Free Report)
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.
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