AT&T Inc. (NYSE:T) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,410 shares of the technology company's stock after selling 468,752 shares during the period. Pinebridge Investments L.P.'s holdings in AT&T were worth $5,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of AT&T in the 4th quarter valued at $1,858,418,000. GQG Partners LLC boosted 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 valued at $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Assetmark Inc. grew its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Invesco Ltd. increased its position in shares of AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after purchasing an additional 7,347,354 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of AT&T in the 4th quarter valued at about $160,747,000. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on T shares. Argus raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday. Barclays increased their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday. DZ Bank 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 Wednesday, January 29th. Finally, Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.62.

AT&T Price Performance

Shares of NYSE T traded down $0.73 during midday trading on Friday, hitting $26.80. The company had a trading volume of 37,042,995 shares, compared to its average volume of 36,505,396. 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 $26.96 and a two-hundred day simple moving average of $24.33. AT&T Inc. has a twelve month low of $16.73 and a twelve month high of $29.03. The firm has a market capitalization of $192.38 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 4.14%. The ex-dividend date is Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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.