AT&T Inc. (NYSE:T) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 23.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,359,913 shares of the technology company’s stock after selling 724,162 shares during the quarter. AT&T comprises about 2.4% of RNC Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. RNC Capital Management LLC’s holdings in AT&T were worth $39,599,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sora Investors LLC purchased a new position in shares of AT&T in the 3rd quarter worth $11,265,000. Robeco Institutional Asset Management B.V. raised its position in shares of AT&T by 2.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock worth $259,219,000 after buying an additional 383,015 shares during the period. Checchi Capital Advisers LLC raised its position in shares of AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after buying an additional 1,178 shares during the period. Terril Brothers Inc. raised its position in shares of AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock worth $8,937,000 after buying an additional 202,637 shares during the period. Finally, Marshall Wace LLP raised its position in shares of AT&T by 336.5% in the 2nd quarter. Marshall Wace LLP now owns 1,439,745 shares of the technology company’s stock worth $22,964,000 after buying an additional 1,109,925 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 2.3 %

Shares of AT&T stock opened at $17.58 on Thursday. The company has a market capitalization of $125.71 billion, a PE ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.99. The business has a 50-day moving average of $17.08 and a 200-day moving average of $16.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Tigress Financial increased their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research report on Wednesday. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. Finally, Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.61.

AT&T Profile

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.