Sterling Capital Management LLC lowered its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 218,902 shares of the technology company's stock after selling 20,032 shares during the quarter. Sterling Capital Management LLC's holdings in AT&T were worth $4,984,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in T. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock valued at $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC increased its holdings in AT&T by 37.3% in the 4th 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 during the period. Bank of New York Mellon Corp grew its holdings in AT&T by 7.1% during the fourth 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 during the period. Finally, Norges Bank acquired a new stake in shares of AT&T during the 4th quarter valued at about $1,858,418,000. Institutional investors own 57.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Scotiabank lifted their target price on shares of AT&T from $28.50 to $29.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 8th. UBS Group upped their target price on shares of AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, December 19th. DZ Bank raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a report on Wednesday, January 29th. BNP Paribas raised 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, Citigroup restated a "buy" rating on shares of AT&T in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.24.
Check Out Our Latest Report on T
AT&T Stock Down 0.2 %
Shares of NYSE T traded down $0.05 on Wednesday, reaching $27.45. 8,578,052 shares of the company's stock traded hands, compared to its average volume of 36,686,018. The company has a market cap of $197.04 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $29.03. 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's 50 day simple moving average is $26.71 and its two-hundred day simple moving average is $24.05.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.04%. AT&T's dividend payout ratio 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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