Price T Rowe Associates Inc. MD Has $411.61 Million Position in AT&T Inc. (NYSE:T)

Price T Rowe Associates Inc. MD decreased its position in AT&T Inc. (NYSE:T) by 11.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,386,712 shares of the technology company’s stock after selling 2,977,088 shares during the period. Price T Rowe Associates Inc. MD’s holdings in AT&T were worth $411,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter valued at about $11,554,000. Provence Wealth Management Group boosted its position in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Retireful LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $1,163,000. Finally, Brighton Jones LLC boosted its position in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock traded down $0.11 during midday trading on Monday, reaching $18.90. 11,303,082 shares of the stock were exchanged, compared to its average volume of 36,648,801. The company’s fifty day moving average is $18.32 and its 200-day moving average is $17.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $135.52 billion, a PE ratio of 10.17, a PEG ratio of 3.22 and a beta of 0.58. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.74.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.87%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Evercore ISI raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday. Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Scotiabank lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $22.33.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.