Allspring Global Investments Holdings LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Allspring Global Investments Holdings LLC reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,012,251 shares of the technology company's stock after selling 245,180 shares during the period. Allspring Global Investments Holdings LLC's holdings in AT&T were worth $57,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Financial Group raised its stake in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after acquiring an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in shares of AT&T in the first quarter valued at $201,000. World Investment Advisors raised its stake in shares of AT&T by 36.4% in the fourth quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock valued at $5,407,000 after acquiring an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. raised its stake in shares of AT&T by 14.6% in the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock valued at $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, West Family Investments Inc. raised its stake in shares of AT&T by 70.4% in the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock valued at $864,000 after acquiring an additional 15,680 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on T. Evercore ISI raised their price target on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a research note on Thursday, April 24th. Finally, Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average price target of $28.90.

AT&T Stock Performance

NYSE T opened at $28.08 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.03. The business's 50-day moving average price is $27.63 and its 200 day moving average price is $25.97. The firm has a market cap of $202.02 billion, a P/E ratio of 17.22, a P/E/G ratio of 3.98 and a beta of 0.41.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the prior year, the business earned $0.55 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is currently 68.10%.

AT&T Company 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.

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