DnB Asset Management AS Has $40.24 Million Position in AT&T Inc. (NYSE:T)

DnB Asset Management AS lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 38.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,767,387 shares of the technology company's stock after purchasing an additional 493,595 shares during the quarter. DnB Asset Management AS's holdings in AT&T were worth $40,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the third quarter worth about $25,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter valued at approximately $28,000. Tradewinds Capital Management LLC lifted its position in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. YANKCOM Partnership acquired a new position in AT&T in the 4th quarter worth approximately $30,000. Finally, Endeavor Private Wealth Inc. purchased a new position in AT&T during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of NYSE:T traded up $0.10 during midday trading on Monday, hitting $28.28. The company's stock had a trading volume of 14,771,935 shares, compared to its average volume of 36,106,507. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock's 50 day simple moving average is $25.70 and its 200 day simple moving average is $23.54. The stock has a market capitalization of $203.02 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 3.00 and a beta of 0.56. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $28.55.

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AT&T (NYSE:T - Get Free Report) last released its earnings results 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%. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared 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. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T's dividend payout ratio is 74.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on T. Scotiabank increased their target price on AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Barclays lifted their target price on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. 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. Finally, UBS Group raised their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.00.

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.