AT&T Inc. (NYSE:T) Shares Sold by Simmons Bank

Simmons Bank cut its stake in shares of AT&T Inc. (NYSE:T) by 12.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 67,115 shares of the technology company’s stock after selling 9,428 shares during the period. Simmons Bank’s holdings in AT&T were worth $1,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of AT&T by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after purchasing an additional 798,024 shares in the last quarter. Northern Financial Advisors Inc grew its position in AT&T by 9.2% in the 4th quarter. Northern Financial Advisors Inc now owns 31,288 shares of the technology company’s stock worth $525,000 after purchasing an additional 2,637 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of AT&T by 7.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 133,008 shares of the technology company’s stock valued at $2,232,000 after purchasing an additional 9,153 shares during the period. N.E.W. Advisory Services LLC raised its stake in AT&T by 31.2% during the 4th quarter. N.E.W. Advisory Services LLC now owns 42,112 shares of the technology company’s stock valued at $707,000 after acquiring an additional 10,025 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of AT&T by 31.4% in the fourth quarter. Apollon Wealth Management LLC now owns 249,874 shares of the technology company’s stock worth $4,193,000 after purchasing an additional 59,680 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.3 %

Shares of NYSE T traded up $0.05 during mid-day trading on Wednesday, hitting $17.13. The company had a trading volume of 15,962,334 shares, compared to its average volume of 38,550,602. The company has a market capitalization of $122.83 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $16.69. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.48%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.81.

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.