Corebridge Financial Inc. Sells 77,799 Shares of AT&T Inc. (NYSE:T)

Corebridge Financial Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,844,051 shares of the technology company’s stock after selling 77,799 shares during the period. Corebridge Financial Inc.’s holdings in AT&T were worth $41,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. boosted its stake in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. Amundi boosted its holdings in shares of AT&T by 19.8% during the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock valued at $753,318,000 after buying an additional 5,614,168 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

AT&T stock opened at $27.04 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $27.97. The firm has a market capitalization of $194.06 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 3.00 and a beta of 0.56. The firm has a 50 day moving average of $25.13 and a 200 day moving average of $23.32.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada lifted their target price on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, Tigress Financial upped their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

AT&T 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.