AT&T Inc. (NYSE:T) Stake Trimmed by LSV Asset Management

LSV Asset Management cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,460,092 shares of the technology company's stock after selling 1,807,238 shares during the quarter. AT&T accounts for about 1.4% of LSV Asset Management's investment portfolio, making the stock its largest holding. LSV Asset Management owned approximately 0.38% of AT&T worth $625,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of T. Norges Bank bought a new position in AT&T in the 4th quarter worth $1,858,418,000. GQG Partners LLC raised its stake in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Assetmark Inc. lifted its holdings in AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after buying an additional 9,719,036 shares during the period. Invesco Ltd. boosted its position in AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after acquiring an additional 7,347,354 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the period. 57.10% of the stock is currently owned by institutional investors.

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AT&T Price Performance

NYSE T traded up $0.40 during trading on Friday, hitting $26.79. 32,053,085 shares of the stock traded hands, compared to its average volume of 36,912,136. The company has a market capitalization of $192.29 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm has a 50-day simple moving average of $26.59 and a 200-day simple moving average of $23.97. 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 $29.03.

AT&T (NYSE:T - Get Free Report) last posted 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%. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, April 10th. AT&T's payout ratio is 74.50%.

Analysts Set New Price Targets

T has been the topic of a number of research reports. 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 report on Tuesday, April 1st. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Tigress Financial lifted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, February 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 research note on Thursday, February 13th. Finally, Sanford C. Bernstein lifted their price objective on AT&T from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average price target of $27.24.

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.