Envestnet Asset Management Inc. Has $367.60 Million Stake in AT&T Inc. (NYSE:T)

Envestnet Asset Management Inc. lifted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,998,517 shares of the technology company's stock after acquiring an additional 651,813 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of AT&T worth $367,598,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares during the period. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in AT&T during the 4th quarter worth about $27,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of AT&T during the fourth quarter worth approximately $30,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America began coverage on shares of AT&T in a research note on Monday. They set a "buy" rating and a $32.00 target price for the company. Oppenheimer lifted their price objective on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. One research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.12.

AT&T Stock Performance

AT&T stock traded down $0.65 on Friday, reaching $26.97. 42,637,282 shares of the stock were exchanged, compared to its average volume of 36,516,853. The stock has a market cap of $194.07 billion, a PE ratio of 16.55, a PEG ratio of 3.45 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The firm has a fifty day moving average price of $27.82 and a two-hundred day moving average price of $26.30.

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

AT&T Announces Dividend

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

AT&T Company 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.