AT&T Inc. (NYSE:T) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its stake in AT&T Inc. (NYSE:T) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,808 shares of the technology company’s stock after selling 5,657 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in AT&T were worth $1,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Northeast Investment Management increased its stake in shares of AT&T by 0.9% in the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 451 shares in the last quarter. Chesapeake Wealth Management increased its stake in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. increased its stake in shares of AT&T by 2.8% in the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC increased its stake in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC increased its stake in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.9 %

T opened at $26.64 on Friday. AT&T Inc. has a one year low of $15.94 and a one year high of $26.72. The stock has a market capitalization of $191.19 billion, a PE ratio of 17.88, a P/E/G ratio of 3.00 and a beta of 0.59. The business’s 50 day moving average price is $23.50 and its 200 day moving average price is $22.30. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Analysts Set New Price Targets

Several research firms have commented on T. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein boosted their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. Finally, Scotiabank boosted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.