Mercer Global Advisors Inc. ADV lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 40.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,547,089 shares of the technology company's stock after selling 1,056,243 shares during the period. Mercer Global Advisors Inc. ADV's holdings in AT&T were worth $35,227,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. World Investment Advisors LLC grew its stake in AT&T by 28.4% during the 3rd quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company's stock worth $3,831,000 after buying an additional 38,548 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in AT&T by 386.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company's stock worth $5,864,000 after purchasing an additional 211,723 shares during the period. Destination Wealth Management acquired a new stake in AT&T during the 3rd quarter worth $240,000. Tidal Investments LLC grew its position in AT&T by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 640,725 shares of the technology company's stock worth $14,096,000 after purchasing an additional 10,954 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on T. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Evercore ISI raised their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $28.71.
Get Our Latest Report on T
AT&T Stock Up 1.5 %
Shares of T stock traded up $0.42 on Tuesday, hitting $27.93. The stock had a trading volume of 9,669,989 shares, compared to its average volume of 41,419,961. AT&T Inc. has a 52-week low of $17.00 and a 52-week high of $29.03. The firm has a market capitalization of $200.94 billion, a price-to-earnings ratio of 18.75, a P/E/G 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. The stock's 50 day moving average is $27.08 and its 200-day moving average is $24.60.
AT&T (NYSE:T - Get Free Report) last announced its earnings results 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). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The business had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. As a group, research 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 announced 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 was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.97%. AT&T's dividend payout ratio (DPR) is presently 68.10%.
About AT&T
(
Free Report)
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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