Enterprise Trust & Investment Co cut its position in AT&T Inc. (NYSE:T) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,081 shares of the technology company’s stock after selling 900 shares during the quarter. AT&T comprises about 1.3% of Enterprise Trust & Investment Co’s portfolio, making the stock its 24th biggest holding. Enterprise Trust & Investment Co’s holdings in AT&T were worth $2,705,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNC Wealth Management LLC bought a new position in shares of AT&T during the third quarter worth approximately $27,000. ELM Advisors LLC acquired a new position in AT&T in the 4th quarter valued at $59,000. Cerebellum GP LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $62,000. Provident Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth $70,000. Finally, Planned Solutions Inc. bought a new position in shares of AT&T in the third quarter worth $81,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of T stock opened at $28.61 on Thursday. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.14. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $29.09. The company has a market cap of $203.87 billion, a P/E ratio of 17.55, a PEG ratio of 1.52 and a beta of 0.69.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Monday, January 11th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Friday, January 8th. AT&T’s payout ratio is 58.26%.
Several equities research analysts recently issued reports on the stock. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Monday, January 4th. National Bank Financial raised shares of AT&T to an “outperform” rating and boosted their target price for the stock from $25.00 to $27.00 in a research note on Monday, November 9th. Oppenheimer reiterated a “buy” rating and issued a $38.00 price target on shares of AT&T in a research note on Thursday, October 1st. Barclays began coverage on AT&T in a research report on Friday, October 2nd. They set an “overweight” rating on the stock. Finally, Wolfe Research began coverage on AT&T in a research report on Monday, October 19th. They issued a “peer perform” rating and a $31.00 target price for the company. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.40.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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