Transce3nd LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Transce3nd LLC lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 65.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,268 shares of the technology company's stock after selling 19,722 shares during the period. Transce3nd LLC's holdings in AT&T were worth $290,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AT&T in the 4th quarter worth about $1,858,418,000. GQG Partners LLC boosted its holdings 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 worth $2,203,667,000 after buying an additional 26,280,866 shares during the last quarter. 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 worth $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp raised its stake in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Finally, Invesco Ltd. raised its stake in AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock worth $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.17.

AT&T Price Performance

T stock traded down $0.07 during midday trading on Friday, reaching $26.92. The stock had a trading volume of 27,403,482 shares, compared to its average volume of 36,379,903. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a market cap of $193.71 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.37 and a beta of 0.42. The company's fifty day simple moving average is $27.74 and its 200 day simple moving average is $26.44. 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 issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

AT&T 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.