AT&T Inc. (NYSE:T) Stock Position Raised by Allworth Financial LP

Allworth Financial LP boosted its stake in AT&T Inc. (NYSE:T - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478,015 shares of the technology company's stock after buying an additional 54,098 shares during the period. Allworth Financial LP's holdings in AT&T were worth $40,690,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AT&T in the fourth quarter worth $1,858,418,000. GQG Partners LLC boosted its stake in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares in the last quarter. Northern Trust Corp boosted its stake in AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in AT&T by 18.2% during the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after buying an additional 7,347,354 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 2.4%

AT&T stock traded down $0.65 during mid-day trading on Friday, hitting $26.97. The company's stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. The firm's 50 day moving average is $27.82 and its 200 day moving average is $26.30. The company has a market cap of $194.07 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio is currently 68.10%.

Analysts Set New Price Targets

T has been the subject of several research reports. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Royal Bank Of Canada raised their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 target price on AT&T in a research note on Thursday, April 24th. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.12.

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.