Cullen Capital Management LLC Has $160.06 Million Stock Position in AT&T Inc. (NYSE:T)

Cullen Capital Management LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,029,523 shares of the technology company’s stock after selling 235,552 shares during the period. AT&T accounts for 1.8% of Cullen Capital Management LLC’s holdings, making the stock its 27th biggest holding. Cullen Capital Management LLC owned about 0.10% of AT&T worth $160,062,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of T. Janus Henderson Group PLC raised its holdings in AT&T by 24.5% during the 3rd quarter. Janus Henderson Group PLC now owns 701,054 shares of the technology company’s stock worth $15,413,000 after purchasing an additional 138,100 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of AT&T by 39.5% during the third quarter. Quantinno Capital Management LP now owns 483,919 shares of the technology company’s stock worth $10,646,000 after buying an additional 136,938 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new position in AT&T during the third quarter worth $245,000. Wellington Management Group LLP lifted its holdings in AT&T by 1.7% in the third quarter. Wellington Management Group LLP now owns 965,383 shares of the technology company’s stock valued at $21,238,000 after buying an additional 16,024 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of AT&T by 148.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 569,243 shares of the technology company’s stock valued at $12,523,000 after purchasing an additional 340,151 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $26.65 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $29.03. The stock has a market cap of $191.27 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a 50-day moving average price of $26.26 and a 200 day moving average price of $23.73.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research note on Thursday, February 13th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.21.

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.