Parsons Capital Management Inc. RI Sells 3,105 Shares of AT&T Inc. (NYSE:T)

Parsons Capital Management Inc. RI lessened its position in AT&T Inc. (NYSE:TFree Report) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 59,346 shares of the technology company’s stock after selling 3,105 shares during the period. Parsons Capital Management Inc. RI’s holdings in AT&T were worth $996,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of T. Carmel Capital Partners LLC grew its position in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton purchased a new position in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the third quarter worth $30,000. FWL Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter worth $31,000. Finally, Financial Freedom LLC purchased a new stake in AT&T during the fourth quarter valued at $34,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of T opened at $17.54 on Wednesday. The firm has a market cap of $125.46 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 2.64 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.99. The company’s 50-day moving average price is $17.16 and its 200 day moving average price is $16.35. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, 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 6.33%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.61.

Read Our Latest Report on AT&T

AT&T Profile

(Free Report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

Further Reading

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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