Allspring Global Investments Holdings LLC Has $46.33 Million Stock Holdings in AT&T Inc. (NYSE:T)

Allspring Global Investments Holdings LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 15.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,632,510 shares of the technology company’s stock after selling 465,918 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AT&T were worth $46,332,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the third quarter worth $30,000. Western Pacific Wealth Management LP bought a new stake in AT&T in the 4th quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on T. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group started coverage on AT&T in a research report on Monday. They set a “buy” rating and a $22.00 price target for the company. Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $21.73.

AT&T Stock Performance

NYSE:T opened at $18.67 on Thursday. The stock has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $17.21. The stock has a market cap of $133.87 billion, a P/E ratio of 10.04, a PEG ratio of 4.27 and a beta of 0.58. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. AT&T’s quarterly revenue was down .4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.95%. AT&T’s payout ratio is 59.68%.

AT&T 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.