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

Jennison Associates LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,615,144 shares of the technology company’s stock after selling 82,528 shares during the quarter. Jennison Associates LLC owned 0.05% of AT&T worth $82,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised 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 purchasing an additional 3,630,972 shares during the last quarter. FMR LLC increased its stake in shares of AT&T by 1.9% in 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 in the last quarter. Swiss National Bank increased its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock valued at $378,807,000 after buying an additional 1,206,330 shares during the last quarter. Finally, National Pension Service lifted its position in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after buying an additional 2,152,016 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 2.2 %

Shares of AT&T stock opened at $24.26 on Tuesday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market capitalization of $174.04 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The business has a 50-day moving average of $22.92 and a two-hundred day moving average of $21.66.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts predict that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.58%. AT&T’s dividend payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.11.

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.