State of Tennessee Department of Treasury lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,744,039 shares of the technology company's stock after acquiring an additional 29,565 shares during the quarter. State of Tennessee Department of Treasury's holdings in AT&T were worth $62,482,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in T. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its stake in AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC boosted its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp raised its position in shares of AT&T by 7.1% during the fourth 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 last quarter. Finally, Norges Bank purchased a new position in shares of AT&T during the fourth quarter valued at about $1,858,418,000. 57.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Scotiabank boosted their target price on shares of AT&T from $28.50 to $29.00 and gave the stock a "sector outperform" rating in a report on Tuesday, April 8th. Tigress Financial increased their price target on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. StockNews.com lowered shares of AT&T from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Royal Bank of Canada upped their target price on AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Finally, Argus upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $27.24.
Get Our Latest Research Report on T
AT&T Price Performance
Shares of NYSE:T traded up $0.21 during midday trading on Wednesday, hitting $27.17. 43,339,250 shares of the stock were exchanged, compared to its average volume of 36,671,497. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $26.89 and a 200-day moving average price of $24.22. AT&T Inc. has a twelve month low of $16.38 and a twelve month high of $29.03. The stock has a market cap of $195.02 billion, a P/E ratio of 18.23, a PEG ratio of 3.00 and a beta of 0.42.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's dividend payout ratio is currently 74.50%.
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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