Nuveen LLC Invests $1.07 Billion in AT&T Inc. (NYSE:T)

Nuveen LLC bought a new position in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,911,174 shares of the technology company's stock, valued at approximately $1,072,128,000. Nuveen LLC owned 0.53% of AT&T as of its most recent filing with the Securities and Exchange Commission.

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Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Aigen Investment Management LP purchased a new stake in shares of AT&T during the 1st quarter valued at $355,000. Cooper Financial Group lifted its position in shares of AT&T by 10.3% during the first quarter. Cooper Financial Group now owns 24,516 shares of the technology company's stock worth $693,000 after purchasing an additional 2,293 shares during the last quarter. Bornite Capital Management LP bought a new position in shares of AT&T during the first quarter worth about $19,796,000. King Luther Capital Management Corp raised its stake in AT&T by 4.7% during the first quarter. King Luther Capital Management Corp now owns 1,728,267 shares of the technology company's stock worth $48,875,000 after acquiring an additional 77,765 shares during the period. Finally, Invesco Ltd. raised its stake in AT&T by 2.3% during the first quarter. Invesco Ltd. now owns 48,740,463 shares of the technology company's stock worth $1,378,380,000 after acquiring an additional 1,088,565 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.1%

Shares of NYSE T opened at $28.08 on Friday. The company's 50 day simple moving average is $27.83 and its 200 day simple moving average is $27.04. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The firm has a market capitalization of $200.78 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.48 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's dividend payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

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Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. UBS Group reiterated a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Williams Trading set a $30.00 target price on shares of AT&T in a research note on Thursday, April 24th. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

Check Out Our Latest Analysis on AT&T

AT&T 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.

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