AT&T Inc. (NYSE:T) Stake Trimmed by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI reduced its stake in AT&T Inc. (NYSE:TFree Report) by 5.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 59,346 shares of the technology company’s stock after selling 3,105 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in AT&T were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Axiom Financial Strategies LLC lifted its position in shares of AT&T by 12.2% in the first quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock valued at $342,000 after buying an additional 1,941 shares during the last quarter. Roundview Capital LLC lifted its holdings in AT&T by 62.3% during the 1st quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock worth $582,000 after buying an additional 9,450 shares during the period. Sei Investments Co. lifted its stake in shares of AT&T by 23.1% in the 1st quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock valued at $25,983,000 after purchasing an additional 206,434 shares during the period. Candriam Luxembourg S.C.A. increased its position in AT&T by 5.5% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock valued at $11,262,000 after buying an additional 25,028 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in AT&T by 1,191.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after buying an additional 11,722 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE:T 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. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99. The firm has a market cap of $125.46 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 2.64 and a beta of 0.57. The company has a 50-day moving average of $17.16 and a 200-day moving average of $16.35.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company 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 company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.33%. AT&T’s dividend payout ratio is presently 56.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Tigress Financial upped their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Oppenheimer upgraded 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. Finally, Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.61.

Check Out Our Latest 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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