OMERS ADMINISTRATION Corp Trims Holdings in AT&T Inc. (NYSE:T)

OMERS ADMINISTRATION Corp cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 435,796 shares of the technology company's stock after selling 37,353 shares during the period. OMERS ADMINISTRATION Corp's holdings in AT&T were worth $9,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Consolidated Planning Corp lifted its stake 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 valued at $7,288,000 after purchasing an additional 21,927 shares during the last quarter. Keystone Financial Group lifted its stake 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 valued at $5,322,000 after purchasing an additional 143,744 shares during the last quarter. World Investment Advisors lifted its stake 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 valued at $5,407,000 after purchasing an additional 63,359 shares during the last quarter. Fortress Financial Solutions LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $691,000. Finally, DigitalBridge Group Inc. lifted its stake 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 valued at $65,255,000 after purchasing an additional 365,776 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank of Canada increased their price target on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Monday, April 7th. StockNews.com upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. 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 issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $28.71.

AT&T Stock Up 1.4%

T stock traded up $0.39 during trading on Friday, reaching $27.72. 31,085,059 shares of the company traded hands, compared to its average volume of 36,784,167. AT&T Inc. has a 12 month low of $17.11 and a 12 month high of $29.03. The business has a 50 day simple moving average of $27.18 and a 200 day simple moving average of $24.90. The company has a market capitalization of $199.43 billion, a price-to-earnings ratio of 18.60, 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 issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is presently 68.10%.

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.