Prudential Financial Inc. Sells 2,875,048 Shares of AT&T Inc. (NYSE:T)

Prudential Financial Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 29.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,822,191 shares of the technology company’s stock after selling 2,875,048 shares during the quarter. Prudential Financial Inc. owned about 0.10% of AT&T worth $155,341,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC lifted its position in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. FMR LLC boosted its position in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of AT&T by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock worth $1,208,123,000 after acquiring an additional 414,984 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

NYSE T opened at $27.04 on Monday. The firm has a market cap of $194.06 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $25.13 and a 200 day moving average price of $23.32.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Barclays raised their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank lifted their target price on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group raised their price objective on 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 price objective for the company in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada raised their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

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.