BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 66,211 Shares of AT&T Inc. (NYSE:T)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,850,487 shares of the technology company's stock after selling 66,211 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in AT&T were worth $64,906,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at about $1,858,418,000. GQG Partners LLC grew its position in shares of AT&T by 37.3% in 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 purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp grew its position in shares of AT&T by 16.3% in 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 purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock valued at $225,741,000 after buying an additional 9,719,036 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Securities increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Barclays increased their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Scotiabank restated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.71.

AT&T Trading Down 0.9%

AT&T stock opened at $27.77 on Wednesday. The firm has a 50-day moving average of $27.26 and a 200-day moving average of $25.00. AT&T Inc. has a one year low of $17.11 and a one year high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market cap of $199.82 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates 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 company earned $0.55 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid 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 dividend yield of 4.00%. AT&T's dividend payout ratio is 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.

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