Prudential PLC Sells 70,169 Shares of AT&T Inc. (NYSE:T)

Prudential PLC lowered its position in shares of AT&T Inc. (NYSE:T) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 333,572 shares of the technology company’s stock after selling 70,169 shares during the period. Prudential PLC’s holdings in AT&T were worth $7,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter valued at $25,000. Marshall Investment Management LLC bought a new stake in AT&T during the fourth quarter valued at about $28,000. YANKCOM Partnership purchased a new position in AT&T in the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC raised its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T during the fourth quarter valued at about $34,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. Scotiabank boosted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Citigroup upped their target price on AT&T from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, March 31st. 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. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, January 16th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

AT&T Price Performance

NYSE:T opened at $26.65 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a 50 day moving average price of $26.26 and a 200-day moving average price of $23.73. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $29.03. The firm has a market cap of $191.27 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T’s dividend payout ratio is currently 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.