Allspring Global Investments Holdings LLC Has $72.44 Million Holdings in AT&T Inc. (NYSE:T)

Allspring Global Investments Holdings LLC decreased its position in AT&T Inc. (NYSE:T) by 19.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,292,731 shares of the technology company’s stock after selling 789,915 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AT&T were worth $72,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its holdings in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC boosted its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew 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 worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in AT&T in the 2nd quarter valued at $78,570,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $21.67 on Tuesday. The company has a market capitalization of $155.38 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 3.73 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The stock has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $19.01. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 63.79%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Oppenheimer increased their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays raised their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. TD Cowen lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

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.