Wellington Management Group LLP Grows Position in AT&T Inc. (NYSE:T)

Wellington Management Group LLP lifted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 161.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,522,814 shares of the technology company's stock after purchasing an additional 1,557,431 shares during the period. Wellington Management Group LLP's holdings in AT&T were worth $57,444,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Consolidated Planning Corp lifted its position in shares of AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock worth $7,288,000 after purchasing an additional 21,927 shares during the period. Keystone Financial Group lifted its position in shares of AT&T by 196.3% in the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock worth $5,322,000 after purchasing an additional 143,744 shares during the period. World Investment Advisors lifted its position in shares of AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares during the period. Fortress Financial Solutions LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $691,000. Finally, DigitalBridge Group Inc. lifted its position in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Scotiabank reissued an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a research report on Thursday, February 13th. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Performance

Shares of T stock traded up $0.35 during trading hours on Friday, reaching $27.73. The company had a trading volume of 47,953,734 shares, compared to its average volume of 36,897,849. The business has a fifty day moving average price of $27.36 and a 200-day moving average price of $25.27. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03. The firm has a market cap of $199.53 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. AT&T's dividend payout ratio is presently 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.