Pinnacle Financial Partners Inc Trims Stake in AT&T Inc. (NYSE:T)

Pinnacle Financial Partners Inc reduced its position in shares of AT&T Inc. (NYSE:T) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,808 shares of the technology company’s stock after selling 5,657 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in AT&T were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T in the 3rd quarter valued at $25,000. YANKCOM Partnership purchased a new position in shares of AT&T in the 4th quarter valued at $30,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the 4th quarter valued at $34,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of AT&T in the 3rd quarter valued at $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Tigress Financial lifted their price target on AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Scotiabank lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

Shares of T opened at $26.64 on Friday. The stock has a 50-day moving average of $23.50 and a two-hundred day moving average of $22.30. AT&T Inc. has a one year low of $15.94 and a one year high of $26.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market cap of $191.19 billion, a P/E ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

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.