Pinnacle Financial Partners Inc Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Pinnacle Financial Partners Inc trimmed its position in AT&T Inc. (NYSE:TFree Report) by 10.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 82,870 shares of the technology company’s stock after selling 9,317 shares during the period. Pinnacle Financial Partners Inc’s holdings in AT&T were worth $1,391,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Sora Investors LLC purchased a new stake in AT&T in the third quarter valued at approximately $11,265,000. Robeco Institutional Asset Management B.V. raised its stake in AT&T by 2.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after purchasing an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares in the last quarter. Terril Brothers Inc. raised its stake in AT&T by 51.6% in the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in AT&T by 336.5% in the second quarter. Marshall Wace LLP now owns 1,439,745 shares of the technology company’s stock valued at $22,964,000 after purchasing an additional 1,109,925 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2 %

Shares of AT&T stock opened at $17.54 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $17.16 and its two-hundred day simple moving average is $16.35. The company has a market cap of $125.46 billion, a P/E ratio of 8.95, a PEG 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.

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 analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Barclays lifted their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Finally, Citigroup lifted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.61.

Get Our Latest Stock Analysis on AT&T

About AT&T

(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.

See Also

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

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