Allspring Global Investments Holdings LLC Sells 1,035,300 Shares of AT&T Inc. (NYSE:T)

Allspring Global Investments Holdings LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 31.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,257,431 shares of the technology company’s stock after selling 1,035,300 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AT&T were worth $51,537,000 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 company. Lester Murray Antman dba SimplyRich grew its position in AT&T by 8.9% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 13,414 shares of the technology company’s stock worth $305,000 after acquiring an additional 1,091 shares during the last quarter. Kentucky Trust Co bought a new stake in AT&T during the 4th quarter worth $2,246,000. Viewpoint Capital Management LLC grew its position in AT&T by 18.3% during the 4th quarter. Viewpoint Capital Management LLC now owns 44,182 shares of the technology company’s stock worth $1,006,000 after acquiring an additional 6,831 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in AT&T by 42.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 101,424 shares of the technology company’s stock worth $2,309,000 after acquiring an additional 30,332 shares during the last quarter. Finally, TFB Advisors LLC grew its position in AT&T by 345.8% during the 4th quarter. TFB Advisors LLC now owns 51,203 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 39,718 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several recent research reports. Sanford C. Bernstein lifted their target price on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

Shares of AT&T stock opened at $25.63 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $25.74. The firm has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.79 and a beta of 0.59. The business has a 50-day simple moving average of $23.15 and a 200 day simple moving average of $21.96. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 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%. On average, research analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 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.