Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stake in AT&T Inc. (NYSE:T)
Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,046,255 shares of the technology company’s stock after selling 80,000 shares during the quarter. AT&T comprises approximately 1.0% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings, making the stock its 16th biggest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AT&T were worth $59,648,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Norges Bank bought a new stake in shares of AT&T during the fourth quarter valued at approximately $2,928,300,000. Nuveen Asset Management LLC grew its holdings in AT&T by 18.4% during the fourth quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock worth $2,079,689,000 after acquiring an additional 8,261,619 shares during the period. Swiss National Bank raised its holdings in shares of AT&T by 21.9% in the 1st quarter. Swiss National Bank now owns 30,672,737 shares of the technology company’s stock worth $894,110,000 after purchasing an additional 5,511,700 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AT&T by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 109,540,861 shares of the technology company’s stock valued at $4,272,292,000 after acquiring an additional 4,091,166 shares during the last quarter. Finally, Unigestion Holding SA acquired a new position in shares of AT&T in the 1st quarter valued at $97,908,000. 54.65% of the stock is owned by institutional investors and hedge funds.
T stock traded up $0.11 during mid-day trading on Friday, reaching $29.88. 25,754,216 shares of the stock traded hands, compared to its average volume of 35,192,484. The firm has a market capitalization of $213.84 billion, a PE ratio of 15.17, a P/E/G ratio of 1.64 and a beta of 0.72. The business has a 50-day moving average of $29.66 and a two-hundred day moving average of $35.34. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.75.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Thursday, April 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.96%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
In related news, Director Geoffrey Y. Yang bought 6,754 shares of AT&T stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price of $29.39 per share, for a total transaction of $198,500.06. Following the completion of the purchase, the director now owns 9,398 shares in the company, valued at $276,207.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Luczo bought 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were purchased at an average cost of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
Several analysts have recently commented on the company. Citigroup decreased their target price on AT&T from $42.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Credit Suisse Group dropped their price objective on shares of AT&T from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Argus reissued a “buy” rating on shares of AT&T in a research note on Friday, March 27th. Deutsche Bank dropped their price target on shares of AT&T from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Cfra cut their price objective on AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $36.15.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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