Bank OZK Sells 21,327 Shares of AT&T Inc. (NYSE:T)

Bank OZK trimmed its stake in shares of AT&T Inc. (NYSE:T) by 47.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,389 shares of the technology company’s stock after selling 21,327 shares during the quarter. Bank OZK’s holdings in AT&T were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in AT&T by 33.0% in the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after purchasing an additional 10,758 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new stake in AT&T in the third quarter valued at approximately $438,000. Uncommon Cents Investing LLC grew its stake in AT&T by 13.6% in the third quarter. Uncommon Cents Investing LLC now owns 25,388 shares of the technology company’s stock valued at $381,000 after acquiring an additional 3,039 shares during the period. Evanson Asset Management LLC grew its stake in AT&T by 6.5% in the third quarter. Evanson Asset Management LLC now owns 21,031 shares of the technology company’s stock valued at $316,000 after acquiring an additional 1,285 shares during the period. Finally, Charles Schwab Trust Co acquired a new stake in AT&T in the third quarter valued at approximately $200,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE:T traded up $0.17 during trading on Friday, reaching $16.75. The company’s stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The firm has a market cap of $119.81 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a 50 day moving average of $16.96 and a 200-day moving average of $16.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a research note on Thursday. 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 report on Friday, January 19th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.