Pinebridge Investments L.P. Has $5.27 Million Stock Holdings in AT&T Inc. (NYSE:T)

Pinebridge Investments L.P. lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 66.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 231,410 shares of the technology company's stock after selling 468,752 shares during the quarter. Pinebridge Investments L.P.'s holdings in AT&T were worth $5,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. International Assets Investment Management LLC bought a new stake in AT&T in the fourth quarter valued at $14,700,000. Franklin Resources Inc. grew its stake in AT&T by 41.4% in the 3rd 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. Consolidated Planning Corp raised its stake in shares of AT&T by 7.4% during 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 boosted its holdings 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 buying an additional 143,744 shares during the last quarter. Finally, World Investment Advisors boosted its holdings 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 buying an additional 63,359 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company raised their price objective 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. Scotiabank reaffirmed an "outperform" rating on shares of AT&T in a research report on Thursday. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Performance

AT&T stock traded up $0.09 during mid-day trading on Tuesday, hitting $27.35. 7,845,678 shares of the company's stock traded hands, compared to its average volume of 36,343,883. AT&T Inc. has a one year low of $16.73 and a one year high of $29.03. The firm has a 50 day moving average price of $26.98 and a 200 day moving average price of $24.39. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $196.29 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, April 10th. AT&T's dividend payout ratio is 68.10%.

AT&T Company 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.