Pinnacle Bancorp Inc. Sells 466 Shares of AT&T Inc. (NYSE:T)

Pinnacle Bancorp Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,122 shares of the technology company’s stock after selling 466 shares during the period. Pinnacle Bancorp Inc.’s holdings in AT&T were worth $276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of AT&T during the third quarter worth about $35,000. Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter valued at approximately $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on T. Morgan Stanley raised 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 research note on Monday, December 16th. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Trading Up 0.5 %

Shares of NYSE:T opened at $21.90 on Thursday. The stock has a market cap of $157.14 billion, a PE ratio of 17.80, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The business has a 50 day moving average of $22.80 and a 200-day moving average of $21.28.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s dividend payout ratio is 90.24%.

About AT&T

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.