Ameriprise Financial Inc. Has $1.18 Billion Stock Holdings in AT&T Inc. (NYSE:T)

Ameriprise Financial Inc. decreased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,826,155 shares of the technology company's stock after selling 649,705 shares during the quarter. Ameriprise Financial Inc. owned about 0.72% of AT&T worth $1,180,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Marshall Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $28,000. YANKCOM Partnership acquired a new stake in AT&T during the 4th quarter valued at $30,000. Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in AT&T during the fourth quarter worth $34,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of AT&T in the fourth quarter valued at $35,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on T shares. StockNews.com raised shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. 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. Evercore ISI upped their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Finally, TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued 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 has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Down 0.0 %

T stock opened at $27.63 on Friday. The firm has a 50-day moving average price of $27.06 and a 200-day moving average price of $24.54. AT&T Inc. has a 12 month low of $16.91 and a 12 month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $198.33 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.02%. AT&T's dividend payout ratio is currently 68.10%.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.