D.A. Davidson & CO. Has $11.30 Million Stake in AT&T Inc. (NYSE:T)

D.A. Davidson & CO. lowered its position in AT&T Inc. (NYSE:T - Free Report) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 399,611 shares of the technology company's stock after selling 43,465 shares during the period. D.A. Davidson & CO.'s holdings in AT&T were worth $11,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC raised its stake 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 purchasing an additional 12,881,578 shares during the period. 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 worth $1,779,438,000 after buying an additional 10,945,679 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in AT&T by 18.2% in the 4th 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 during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on T shares. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. TD Securities increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Evercore ISI upped their price objective 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. Finally, Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $28.90.

AT&T Stock Performance

AT&T stock opened at $28.33 on Friday. The stock has a 50-day simple moving average of $27.76 and a 200 day simple moving average of $26.08. The stock has a market capitalization of $203.82 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 4.02 and a beta of 0.42. 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 12-month low of $18.14 and a 12-month high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share 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 during the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio 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.

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