Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,318,553 shares of the technology company's stock after selling 106,630 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of AT&T worth $166,643,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company's stock valued at $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. GQG Partners LLC raised its position in AT&T by 37.3% during the fourth 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 period. Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares in the last quarter. Finally, FMR LLC boosted its position in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company's stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
T has been the topic of a number of research reports. Scotiabank upped 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. New Street Research upgraded shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on shares of AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.79.
Read Our Latest Report on T
AT&T Stock Performance
Shares of AT&T stock traded down $0.00 on Friday, reaching $28.20. The stock had a trading volume of 35,072,594 shares, compared to its average volume of 36,189,161. 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 business's 50-day moving average price is $25.70 and its two-hundred day moving average price is $23.51. The stock has a market cap of $202.40 billion, a P/E ratio of 18.92, a price-to-earnings-growth 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 $28.51.
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 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, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 3.94%. AT&T's dividend payout ratio (DPR) 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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