Cullen Capital Management LLC Has $160.06 Million Stake in AT&T Inc. (NYSE:T)

Cullen Capital Management LLC reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,029,523 shares of the technology company's stock after selling 235,552 shares during the quarter. AT&T accounts for 1.8% of Cullen Capital Management LLC's holdings, making the stock its 27th biggest position. Cullen Capital Management LLC owned about 0.10% of AT&T worth $160,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Janus Henderson Group PLC lifted its holdings in shares of AT&T by 24.5% during the third quarter. Janus Henderson Group PLC now owns 701,054 shares of the technology company's stock valued at $15,413,000 after purchasing an additional 138,100 shares during the last quarter. Quantinno Capital Management LP lifted its stake in AT&T by 39.5% during the third quarter. Quantinno Capital Management LP now owns 483,919 shares of the technology company's stock valued at $10,646,000 after buying an additional 136,938 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of AT&T in the third quarter worth about $245,000. Wellington Management Group LLP boosted its holdings in shares of AT&T by 1.7% in the third quarter. Wellington Management Group LLP now owns 965,383 shares of the technology company's stock worth $21,238,000 after buying an additional 16,024 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in shares of AT&T by 148.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 569,243 shares of the technology company's stock worth $12,523,000 after acquiring an additional 340,151 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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AT&T Stock Performance

T stock traded down $0.34 during midday trading on Tuesday, hitting $26.49. 39,730,509 shares of the company traded hands, compared to its average volume of 36,628,784. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $29.03. The stock has a market capitalization of $190.14 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth 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. The business has a 50 day simple moving average of $26.31 and a 200-day simple moving average of $23.80.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.19%. AT&T's payout ratio is 74.50%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Sanford C. Bernstein raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Royal Bank of Canada raised their target price on AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, DZ Bank raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. One equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.21.

AT&T Profile

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.