Gateway Investment Advisers LLC Sells 470,206 Shares of AT&T Inc. (NYSE:T)

Gateway Investment Advisers LLC lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 22.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,607,912 shares of the technology company's stock after selling 470,206 shares during the quarter. Gateway Investment Advisers LLC's holdings in AT&T were worth $45,472,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of AT&T in the 4th quarter valued at $1,858,418,000. GQG Partners LLC boosted its holdings 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 valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 increased 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 purchasing an additional 10,945,679 shares during the period. Finally, Assetmark Inc. raised its holdings in AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Evercore ISI raised their target price on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Wells Fargo & Company raised their price objective 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. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Morgan Stanley reissued an "overweight" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

AT&T Trading Up 1.2%

Shares of NYSE:T opened at $28.09 on Friday. The firm has a market cap of $202.12 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03. The company's fifty day simple moving average is $27.32 and its 200 day simple moving average is $25.45. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T's dividend payout ratio is presently 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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