Pinnacle Financial Partners Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 44.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,776 shares of the technology company’s stock after selling 175,433 shares during the period. Pinnacle Financial Partners Inc.’s holdings in AT&T were worth $6,377,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Hohimer Wealth Management LLC lifted its position in shares of AT&T by 0.3% during the 4th quarter. Hohimer Wealth Management LLC now owns 150,118 shares of the technology company’s stock worth $4,317,000 after buying an additional 378 shares during the last quarter. Pure Financial Advisors Inc. increased its holdings in AT&T by 3.5% in the 4th quarter. Pure Financial Advisors Inc. now owns 11,273 shares of the technology company’s stock worth $324,000 after purchasing an additional 379 shares in the last quarter. Shine Investment Advisory Services Inc. increased its holdings in AT&T by 13.2% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 3,278 shares of the technology company’s stock worth $93,000 after purchasing an additional 382 shares in the last quarter. Evermay Wealth Management LLC increased its holdings in AT&T by 2.3% in the 3rd quarter. Evermay Wealth Management LLC now owns 17,144 shares of the technology company’s stock worth $489,000 after purchasing an additional 386 shares in the last quarter. Finally, Day & Ennis LLC increased its holdings in AT&T by 0.7% in the 3rd quarter. Day & Ennis LLC now owns 53,056 shares of the technology company’s stock worth $1,513,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.
T has been the subject of a number of recent research reports. Morgan Stanley cut AT&T from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $36.00 to $34.00 in a report on Thursday, December 17th. National Bank Financial raised AT&T to an “outperform” rating and increased their price target for the company from $25.00 to $27.00 in a research note on Monday, November 9th. Wolfe Research began coverage on AT&T in a research note on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price target for the company. Wells Fargo & Company reissued an “underweight” rating and issued a $25.00 price target on shares of AT&T in a research note on Monday, November 16th. Finally, Oppenheimer reissued a “buy” rating and issued a $38.00 price target on shares of AT&T in a research note on Thursday, October 1st. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $32.40.
Shares of NYSE:T opened at $28.61 on Thursday. The business’s 50 day simple moving average is $29.36 and its two-hundred day simple moving average is $29.09. The firm has a market cap of $203.87 billion, a P/E ratio of 17.55, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.14.
AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The firm had revenue of $42.43 billion during the quarter, compared to the consensus estimate of $41.66 billion. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts forecast that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Monday, January 11th will be issued a $0.52 dividend. The ex-dividend date is Friday, January 8th. This represents a $2.08 annualized dividend and a yield of 7.27%. AT&T’s payout ratio is currently 58.26%.
AT&T Company Profile
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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