Cadence Bank Has $830,000 Holdings in AT&T Inc. (NYSE:T)

Cadence Bank decreased its position in shares of AT&T Inc. (NYSE:T) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,132 shares of the technology company’s stock after selling 1,270 shares during the quarter. Cadence Bank’s holdings in AT&T were worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Pinnbrook Capital Management LP acquired a new position in shares of AT&T during the 1st quarter valued at $4,619,000. Advisors Asset Management Inc. increased its holdings in shares of AT&T by 3.3% during the first quarter. Advisors Asset Management Inc. now owns 1,605,776 shares of the technology company’s stock valued at $28,262,000 after acquiring an additional 51,168 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of AT&T by 5.7% during the first quarter. Axxcess Wealth Management LLC now owns 274,395 shares of the technology company’s stock worth $4,829,000 after purchasing an additional 14,789 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of AT&T by 7.8% in the 1st quarter. EP Wealth Advisors LLC now owns 109,610 shares of the technology company’s stock worth $1,929,000 after purchasing an additional 7,944 shares in the last quarter. Finally, Freestone Capital Holdings LLC grew its position in AT&T by 6.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 140,737 shares of the technology company’s stock valued at $2,477,000 after purchasing an additional 8,662 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Price Performance

Shares of AT&T stock traded down $0.18 on Friday, hitting $19.01. 30,764,250 shares of the company traded hands, compared to its average volume of 36,830,707. AT&T Inc. has a 12-month low of $13.89 and a 12-month high of $19.74. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. The company has a market cap of $136.30 billion, a P/E ratio of 10.24, a P/E/G ratio of 3.67 and a beta of 0.58. The firm’s 50-day simple moving average is $18.29 and its 200 day simple moving average is $17.45.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. Analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. AT&T’s dividend payout ratio is currently 59.68%.

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.