Cahaba Wealth Management Inc. Sells 850 Shares of AT&T Inc. (NYSE:T)

Cahaba Wealth Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:TFree Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,072 shares of the technology company’s stock after selling 850 shares during the period. Cahaba Wealth Management Inc.’s holdings in AT&T were worth $354,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Stonegate Investment Group LLC grew its holdings in shares of AT&T by 6.3% during the fourth quarter. Stonegate Investment Group LLC now owns 51,997 shares of the technology company’s stock worth $873,000 after purchasing an additional 3,059 shares during the last quarter. Bell Bank grew its holdings in shares of AT&T by 0.9% during the fourth quarter. Bell Bank now owns 440,735 shares of the technology company’s stock worth $7,396,000 after purchasing an additional 4,008 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in AT&T by 6.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 18,448 shares of the technology company’s stock valued at $310,000 after acquiring an additional 1,162 shares during the last quarter. Drive Wealth Management LLC bought a new position in AT&T in the fourth quarter valued at about $406,000. Finally, Oak Thistle LLC bought a new position in AT&T in the fourth quarter valued at about $1,050,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of NYSE:T traded up $0.04 during mid-day trading on Tuesday, reaching $17.54. 40,163,314 shares of the stock were exchanged, compared to its average volume of 38,718,438. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market cap of $125.46 billion, a P/E ratio of 8.97, a P/E/G ratio of 2.65 and a beta of 0.57. AT&T Inc. has a one year low of $13.43 and a one year high of $19.99. The stock’s 50 day simple moving average is $17.16 and its 200-day simple moving average is $16.35.

AT&T (NYSE:TGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’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 business earned $0.61 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.33%. AT&T’s dividend payout ratio is currently 56.63%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.61.

Get Our Latest Stock Analysis on T

About AT&T

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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