Wellington Management Group LLP Purchases 1,557,431 Shares of AT&T Inc. (NYSE:T)

Wellington Management Group LLP lifted its stake in AT&T Inc. (NYSE:T) by 161.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,522,814 shares of the technology company’s stock after buying an additional 1,557,431 shares during the quarter. Wellington Management Group LLP’s holdings in AT&T were worth $57,444,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Consolidated Planning Corp raised its holdings 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 worth $7,288,000 after buying an additional 21,927 shares in the last quarter. Keystone Financial Group raised 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 in the last quarter. World Investment Advisors increased its holdings in AT&T by 36.4% during 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 in the last quarter. Fortress Financial Solutions LLC acquired a new stake in AT&T during the 4th quarter valued at $691,000. Finally, DigitalBridge Group Inc. increased its holdings in AT&T by 14.6% during 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 in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.5%

NYSE:T opened at $27.38 on Friday. AT&T Inc. has a 12-month low of $17.16 and a 12-month high of $29.03. 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 firm has a market capitalization of $196.98 billion, a P/E ratio of 18.37, a P/E/G ratio of 3.00 and a beta of 0.42. The stock’s fifty day simple moving average is $27.35 and its 200-day simple moving average is $25.23.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.05%. AT&T’s dividend payout ratio is currently 68.10%.

Analyst Ratings Changes

T has been the subject of a number of recent analyst reports. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a report on Thursday, February 13th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. TD Securities raised their price target on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.71.

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.