Jennison Associates LLC Has $100.18 Million Stake in AT&T Inc. (NYSE:T)

Jennison Associates LLC decreased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,542,586 shares of the technology company's stock after selling 72,558 shares during the quarter. Jennison Associates LLC's holdings in AT&T were worth $100,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in AT&T in the fourth quarter worth approximately $1,858,418,000. GQG Partners LLC raised its position in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AT&T by 31.8% in 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp raised its position in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Invesco Ltd. raised its position in AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Tigress Financial boosted their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. UBS Group restated a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Barclays upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.17.

AT&T Stock Down 0.3%

AT&T stock traded down $0.07 during trading on Friday, reaching $26.92. The stock had a trading volume of 27,403,482 shares, compared to its average volume of 36,405,886. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The business has a 50 day moving average price of $27.74 and a 200 day moving average price of $26.47. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market cap of $193.71 billion, a PE ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42.

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). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders 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 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 68.10%.

About AT&T

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.