Allspring Global Investments Holdings LLC Buys 1,450,136 Shares of AT&T Inc. (NYSE:T)

Allspring Global Investments Holdings LLC grew its stake in AT&T Inc. (NYSE:T) by 55.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,082,646 shares of the technology company’s stock after acquiring an additional 1,450,136 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of AT&T worth $78,019,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp lifted its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Norges Bank purchased a new stake in AT&T during the fourth quarter valued at approximately $1,118,288,000. Charles Schwab Investment Management Inc. lifted its position in AT&T by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after acquiring an additional 798,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after acquiring an additional 1,137,792 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.1 %

NYSE:T traded down $0.01 on Tuesday, hitting $19.75. The stock had a trading volume of 1,161,125 shares, compared to its average volume of 35,590,172. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $141.61 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 3.26 and a beta of 0.58. The company has a fifty day moving average price of $19.01 and a two-hundred day moving average price of $17.81. AT&T Inc. has a 1-year low of $14.11 and a 1-year high of $19.99.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the business posted $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

Analyst Ratings Changes

A number of research firms recently commented on T. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

About AT&T

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.