AT&T Inc. (NYSE:T) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its position in AT&T Inc. (NYSE:T) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,320 shares of the technology company’s stock after selling 6,064 shares during the quarter. Procyon Advisors LLC’s holdings in AT&T were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of T. Carmel Capital Partners LLC grew its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new position in shares of AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the 3rd quarter valued at $30,000. FWL Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at $31,000. Finally, Financial Freedom LLC purchased a new position in AT&T during the 4th quarter worth $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on T. Citigroup raised their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays raised their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Tigress Financial lifted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.61.

AT&T Stock Performance

Shares of T remained flat at $17.55 during midday trading on Thursday. The company’s stock had a trading volume of 5,545,434 shares, compared to its average volume of 38,395,301. The company’s fifty day moving average is $17.08 and its 200-day moving average is $16.26. The stock has a market capitalization of $125.53 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for 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 for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Company 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.