Nuveen Asset Management LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Nuveen Asset Management LLC lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,069,317 shares of the technology company's stock after selling 562,518 shares during the period. Nuveen Asset Management LLC owned about 0.56% of AT&T worth $912,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in T. Norges Bank bought a new position in AT&T during the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC boosted its stake in shares of AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Northern Trust Corp boosted its stake in shares of AT&T by 16.3% during the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Assetmark Inc. grew its holdings in shares of AT&T by 4,986.1% in the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company's stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 3.3%

T stock traded up $0.87 during midday trading on Thursday, hitting $27.31. The company's stock had a trading volume of 35,254,830 shares, compared to its average volume of 36,758,488. The firm's 50-day moving average is $27.15 and its 200-day moving average is $24.86. The company has a market cap of $196.51 billion, a PE ratio of 18.33, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03.

AT&T (NYSE:T - Get Free Report) last announced 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). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.06%. AT&T's dividend payout ratio (DPR) is 68.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Evercore ISI boosted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

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.