Prudential PLC Sells 70,169 Shares of AT&T Inc. (NYSE:T)

Prudential PLC lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,572 shares of the technology company's stock after selling 70,169 shares during the period. Prudential PLC's holdings in AT&T were worth $7,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at about $25,000. Marshall Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter valued at approximately $28,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth 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 purchased a new position in AT&T in the 4th quarter worth approximately $30,000. Finally, Endeavor Private Wealth Inc. bought a new position in AT&T in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on T shares. DZ Bank raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. Tigress Financial increased their price objective on shares of AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday. Scotiabank increased their price target on AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.21.

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AT&T Trading Down 6.8 %

T stock traded down $1.95 during midday trading on Friday, reaching $26.65. 61,325,675 shares of the company traded hands, compared to its average volume of 36,452,570. The firm has a market capitalization of $191.27 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $29.03. The business has a 50 day moving average of $26.26 and a 200-day moving average of $23.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Thursday, April 10th. AT&T's dividend payout ratio is currently 74.50%.

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.