Pin Oak Investment Advisors Inc. Lowers Stock Position in AT&T Inc. (NYSE:T)

Pin Oak Investment Advisors Inc. lowered its position in shares of AT&T Inc. (NYSE:TFree Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,069 shares of the technology company’s stock after selling 1,096 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in AT&T were worth $236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of AT&T in the 4th quarter worth about $1,118,288,000. Ameriprise Financial Inc. raised its position in shares of AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares during the last quarter. FMR LLC raised its position in shares of AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares during the last quarter. Thornburg Investment Management Inc. purchased a new position in shares of AT&T in the 4th quarter worth about $316,472,000. Finally, Kodai Capital Management LP purchased a new position in AT&T in the 4th quarter worth about $152,109,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on T. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Monday, April 29th. Scotiabank boosted their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.32.

Read Our Latest Stock Analysis on T

AT&T Stock Performance

Shares of T remained flat at $17.86 during mid-day trading on Tuesday. The stock had a trading volume of 29,688,900 shares, compared to its average volume of 36,885,746. The stock has a market cap of $128.06 billion, a P/E ratio of 9.63, a PEG ratio of 3.56 and a beta of 0.60. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.45. The stock has a 50-day simple moving average of $17.17 and a 200-day simple moving average of $17.02. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.22%. AT&T’s payout ratio is presently 59.68%.

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.

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

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