Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in AT&T Inc. (NYSE:T)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in AT&T Inc. (NYSE:T - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,650,632 shares of the technology company's stock after buying an additional 107,069 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of AT&T worth $499,160,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $27,000. Ball & Co Wealth Management Inc. bought a new position in shares of AT&T during the 4th quarter valued at approximately $30,000. Finally, REAP Financial Group LLC grew its stake in shares of AT&T by 115.2% during the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after acquiring an additional 727 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada upped their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. TD Securities upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.76.

AT&T Price Performance

T stock opened at $28.08 on Friday. The company has a market capitalization of $202.02 billion, a P/E ratio of 17.22, a PEG ratio of 3.97 and a beta of 0.41. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.03. The business has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $25.94. 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 (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS 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 company had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the company earned $0.55 EPS. AT&T's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) 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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