AT&T Inc. (NYSE:T) Position Lessened by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its position in AT&T Inc. (NYSE:TFree Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,870 shares of the technology company’s stock after selling 9,317 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in AT&T were worth $1,391,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. State Street Corp lifted its stake in shares of AT&T by 3.4% in the 2nd quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock valued at $4,738,520,000 after purchasing an additional 9,781,352 shares during the last quarter. Newport Trust Company LLC lifted its position in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the last quarter. Morgan Stanley boosted its stake in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after acquiring an additional 29,769,976 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after acquiring an additional 76,746,649 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after acquiring an additional 1,828,237 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock opened at $17.54 on Wednesday. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.99. The company has a market capitalization of $125.46 billion, a P/E ratio of 8.95, a P/E/G ratio of 2.64 and a beta of 0.57. The stock has a 50 day moving average of $17.16 and a two-hundred day moving average of $16.35. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:TGet Free Report) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned $0.61 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid 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 is Tuesday, April 9th. AT&T’s dividend payout ratio is 56.63%.

Analysts Set New Price Targets

Several research firms recently weighed in on T. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Wells Fargo & Company upped their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.61.

Read Our Latest Stock Analysis on T

AT&T Company Profile

(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

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

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