Bell Bank lowered its stake in AT&T Inc. (NYSE:T – Get Rating) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385,713 shares of the technology company’s stock after selling 36,722 shares during the quarter. Bell Bank’s holdings in AT&T were worth $7,101,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Axiom Financial Strategies LLC lifted its position in shares of AT&T by 12.2% during the first quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock worth $342,000 after purchasing an additional 1,941 shares in the last quarter. Roundview Capital LLC increased its stake in AT&T by 62.3% in the first quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock valued at $582,000 after purchasing an additional 9,450 shares during the last quarter. Sei Investments Co. increased its stake in AT&T by 23.1% in the first 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 last quarter. Candriam Luxembourg S.C.A. increased its stake in AT&T by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock valued at $11,262,000 after purchasing an additional 25,028 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of AT&T by 1,191.3% in the first quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after acquiring an additional 11,722 shares during the period. Institutional investors and hedge funds own 51.86% of the company’s stock.
AT&T Trading Up 0.6 %
Shares of NYSE T traded up $0.11 during midday trading on Wednesday, hitting $19.80. The stock had a trading volume of 11,583,732 shares, compared to its average volume of 31,794,096. The company has a market capitalization of $141.64 billion, a price-to-earnings ratio of -16.66, a PEG ratio of 2.44 and a beta of 0.66. AT&T Inc. has a 1-year low of $14.46 and a 1-year high of $21.53. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average price of $19.05 and a 200 day moving average price of $18.47.
AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $31.30 billion for the quarter, compared to analyst estimates of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The company’s revenue was down 23.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, analysts predict that AT&T Inc. will post 2.4 earnings per share for the current year.
AT&T Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.11 dividend on an annualized basis and a yield of 5.61%. AT&T’s payout ratio is currently -93.28%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on T shares. StockNews.com initiated coverage on AT&T in a report on Thursday, March 16th. They issued a “hold” rating for the company. Cowen increased their price target on AT&T from $24.00 to $25.00 in a report on Thursday, January 26th. Wells Fargo & Company raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $22.00 in a report on Tuesday, January 10th. Citigroup raised their target price on AT&T from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, January 24th. Finally, Moffett Nathanson reissued an “underperform” rating and issued a $17.00 target price on shares of AT&T in a report on Monday, December 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Hold” and an average price target of $22.00.
AT&T Company Profile
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.