AT&T Inc. (NYSE:T) Shares Sold by Simmons Bank

Simmons Bank lessened its position in AT&T Inc. (NYSE:T) by 23.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,679 shares of the technology company’s stock after selling 14,785 shares during the period. Simmons Bank’s holdings in AT&T were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at $25,000. First Pacific Financial lifted its position in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its position in shares of AT&T by 58.2% during the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

T traded up $0.17 during trading on Wednesday, hitting $19.82. The stock had a trading volume of 20,421,142 shares, compared to its average volume of 35,613,988. The firm has a market cap of $142.11 billion, a PE ratio of 10.63, a P/E/G ratio of 3.26 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $19.99. The company has a 50 day simple moving average of $19.01 and a 200-day simple moving average of $17.81.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.60%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on T. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.06.

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.