Avanza Fonder AB Has $13.39 Million Holdings in AT&T Inc. (NYSE:T)

Avanza Fonder AB trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 475,835 shares of the technology company's stock after selling 42,183 shares during the quarter. Avanza Fonder AB's holdings in AT&T were worth $13,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position 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 period. Geode Capital Management LLC grew its stake in shares of AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC raised its holdings in shares of AT&T by 37.3% during the 4th 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 during the period. Bank of New York Mellon Corp lifted its position in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new position in AT&T during the 4th quarter worth approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

T traded up $0.56 during trading on Tuesday, reaching $28.42. 39,923,339 shares of the company were exchanged, compared to its average volume of 36,665,902. 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 cap of $204.46 billion, a P/E ratio of 19.07, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03. The firm has a 50 day moving average of $27.32 and a 200 day moving average of $25.52.

AT&T (NYSE:T - Get Free Report) last issued 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 return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.91%. AT&T's payout ratio is 68.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Monday, April 7th. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Cowen reissued a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average price target of $28.71.

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.