Treasurer of the State of North Carolina reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,790,275 shares of the technology company's stock after selling 288,708 shares during the quarter. Treasurer of the State of North Carolina owned about 0.05% of AT&T worth $86,305,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of T. Vanguard Group Inc. raised its holdings 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 worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after buying an additional 2,640,644 shares during the period. GQG Partners LLC raised its stake in shares of AT&T by 37.3% during 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after buying an additional 5,649,277 shares during the period. Finally, Norges Bank bought a new position in AT&T in the fourth quarter valued at approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.
AT&T Stock Up 1.5 %
Shares of T traded up $0.40 during mid-day trading on Friday, hitting $26.79. 32,053,085 shares of the company's stock were exchanged, compared to its average volume of 36,912,136. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $29.03. The company has a market cap of $192.29 billion, a PE ratio of 17.98, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a 50-day simple moving average of $26.59 and a 200 day simple moving average of $23.97.
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, 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%. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.14%. AT&T's payout ratio is presently 74.50%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on T. Royal Bank of Canada increased their price target on AT&T from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. Tigress Financial increased their target price on AT&T from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Wednesday, January 29th. Argus upgraded shares of 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. Finally, Scotiabank boosted their price objective on shares of AT&T from $28.50 to $29.00 and gave the company a "sector outperform" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.24.
Check Out Our Latest Stock Analysis on T
AT&T Company Profile
(
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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