Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,397,656 shares of the technology company’s stock after selling 92,747 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of AT&T worth $291,933,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of T. State Street Corp grew its stake in AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after purchasing an additional 1,567,008 shares in the last quarter. Newport Trust Company LLC grew its stake in AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares in the last quarter. Morgan Stanley grew its stake in AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after purchasing an additional 76,746,649 shares in the last quarter. Finally, Northern Trust Corp grew its stake in AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the subject of several research reports. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Tigress Financial lifted their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.68.

AT&T Stock Down 0.7 %

NYSE:T opened at $16.31 on Monday. The firm has a market capitalization of $116.66 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.99. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s fifty day moving average price is $17.10 and its 200 day moving average price is $16.47.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter last year, the company posted $0.61 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.81%. AT&T’s payout ratio is 56.63%.

AT&T Company Profile

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.