Todd Asset Management LLC Buys Shares of 389,619 AT&T Inc. (NYSE:T)

Todd Asset Management LLC bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 389,619 shares of the technology company's stock, valued at approximately $11,018,000.

Several other large investors have also recently bought and sold shares of T. Nuveen LLC acquired a new position in shares of AT&T in the first quarter valued at approximately $1,072,128,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 buying an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board lifted its position in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Northern Trust Corp lifted 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 worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the topic of a number of research reports. TD Securities boosted their price objective 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. Tigress Financial boosted their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One equities 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's stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Price Performance

NYSE:T opened at $28.15 on Tuesday. AT&T Inc. has a one year low of $18.97 and a one year high of $29.19. The company has a market cap of $201.28 billion, a P/E ratio of 15.99, a P/E/G ratio of 3.48 and a beta of 0.42. The firm's fifty day moving average price is $27.84 and its two-hundred day moving average price is $27.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

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.

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