Balentine LLC Sells 1,875 Shares of AT&T Inc. (NYSE:T)

Balentine LLC reduced its stake in AT&T Inc. (NYSE:T) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,791 shares of the technology company’s stock after selling 1,875 shares during the period. Balentine LLC’s holdings in AT&T were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in T. Legacy Investment Solutions LLC bought a new position in AT&T in the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake 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 purchasing an additional 841 shares during the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter worth $30,000. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the 4th quarter worth $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T in the third quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $24.86 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $178.38 billion, a PE ratio of 16.68, a P/E/G ratio of 2.79 and a beta of 0.59. The firm has a fifty day simple moving average of $23.04 and a 200 day simple moving average of $21.86. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.98.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on T shares. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

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.