RNC Capital Management LLC Sells 252,234 Shares of AT&T Inc. (NYSE:T)

RNC Capital Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,157,954 shares of the technology company’s stock after selling 252,234 shares during the period. AT&T accounts for about 2.1% of RNC Capital Management LLC’s holdings, making the stock its 16th largest holding. RNC Capital Management LLC’s holdings in AT&T were worth $33,303,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. BNC Wealth Management LLC purchased a new position in AT&T in the third quarter worth about $27,000. ELM Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at approximately $59,000. Cerebellum GP LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $62,000. Provident Wealth Management LLC purchased a new position in AT&T in the 3rd quarter worth approximately $70,000. Finally, Planned Solutions Inc. purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $81,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.

T has been the topic of several recent research reports. Barclays initiated coverage on AT&T in a report on Friday, October 2nd. They set an “overweight” rating on the stock. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Monday, January 4th. Oppenheimer restated a “buy” rating and set a $38.00 price target on shares of AT&T in a report on Thursday, October 1st. Finally, BidaskClub lowered AT&T from a “sell” rating to a “strong sell” rating in a report on Friday, December 18th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.40.

NYSE:T opened at $28.61 on Thursday. The company has a market cap of $203.87 billion, a PE ratio of 17.55, a P/E/G ratio of 1.52 and a beta of 0.69. AT&T Inc. has a twelve month low of $26.08 and a twelve month high of $39.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $29.36 and its two-hundred day moving average is $29.09.

AT&T (NYSE:T) last released its earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). The company had revenue of $42.43 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, analysts expect that AT&T Inc. will post 3.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend is Friday, January 8th. AT&T’s dividend payout ratio (DPR) 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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Institutional Ownership by Quarter for AT&T (NYSE:T)

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