Jennison Associates LLC Has $82.32 Million Position in AT&T Inc. (NYSE:T)

Jennison Associates LLC cut its stake in AT&T Inc. (NYSE:T) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,615,144 shares of the technology company’s stock after selling 82,528 shares during the period. Jennison Associates LLC’s holdings in AT&T were worth $82,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of T. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AT&T in the second quarter valued at about $44,000. AMF Tjanstepension AB raised its stake in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after purchasing an additional 1,161,152 shares in the last quarter. Czech National Bank boosted its holdings in AT&T by 6.9% in the 3rd quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock valued at $32,134,000 after purchasing an additional 94,312 shares during the period. GAMMA Investing LLC grew its position in shares of AT&T by 39.2% during the 3rd quarter. GAMMA Investing LLC now owns 131,975 shares of the technology company’s stock worth $2,903,000 after purchasing an additional 37,162 shares in the last quarter. Finally, WealthBridge Capital Management LLC bought a new position in shares of AT&T during the third quarter worth approximately $218,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on T shares. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Scotiabank raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.11.

AT&T Stock Up 2.2 %

Shares of NYSE T opened at $24.26 on Tuesday. The company has a market cap of $174.04 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 2.71 and a beta of 0.59. 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 firm’s fifty day moving average is $22.92 and its 200 day moving average is $21.66. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts expect that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 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.