AT&T Inc. (NYSE:T) Stake Lessened by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 0.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,584,862 shares of the technology company’s stock after selling 8,326 shares during the quarter. AT&T comprises 10.9% of Thornburg Investment Management Inc.’s portfolio, making the stock its largest position. Thornburg Investment Management Inc.’s holdings in AT&T were worth $780,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of T. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the period. Northern Trust Corp grew its holdings in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the period. Invesco Ltd. grew its holdings in AT&T by 18.2% in the fourth quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after purchasing an additional 7,347,354 shares during the period. Marshall Wace LLP bought a new position in shares of AT&T in the fourth quarter worth approximately $160,747,000. Finally, Alliancebernstein L.P. lifted its stake in shares of AT&T by 40.1% in the fourth quarter. Alliancebernstein L.P. now owns 18,632,607 shares of the technology company’s stock worth $424,264,000 after buying an additional 5,329,647 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on T. Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada upped their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Evercore ISI increased their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.66.

AT&T Price Performance

T stock opened at $27.61 on Tuesday. AT&T Inc. has a 52 week low of $18.64 and a 52 week high of $29.19. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $26.72. The firm has a market capitalization of $198.67 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.49 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, July 10th. AT&T’s dividend payout ratio is presently 63.07%.

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.