Brown Brothers Harriman & Co. Raises Stock Holdings in AT&T Inc. (NYSE:T)

Brown Brothers Harriman & Co. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,437 shares of the technology company’s stock after purchasing an additional 4,406 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in AT&T were worth $2,287,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in AT&T in the fourth quarter valued at about $1,858,418,000. GQG Partners LLC grew its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after acquiring an additional 26,280,866 shares in the last quarter. Assetmark Inc. grew its position in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in AT&T by 7.1% during 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 during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on T shares. Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 29th. Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Trading Down 0.0 %

Shares of NYSE:T opened at $28.20 on Friday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.51. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market cap of $202.40 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.00 and a beta of 0.56. The company has a 50 day moving average of $25.70 and a 200-day moving average of $23.53.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.94%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.