Simmons Bank Has $956,000 Stock Holdings in AT&T Inc. (NYSE:T)

Simmons Bank lowered its stake in AT&T Inc. (NYSE:T) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,439 shares of the technology company’s stock after selling 4,240 shares during the quarter. Simmons Bank’s holdings in AT&T were worth $956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP bought a new stake in AT&T in the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T in the 3rd quarter valued at $7,438,000. Mackenzie Financial Corp raised its stake in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the period. DRW Securities LLC lifted its holdings in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after acquiring an additional 26,706 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Up 0.7 %

NYSE:T opened at $22.30 on Thursday. AT&T Inc. has a twelve month low of $15.52 and a twelve month high of $22.73. The firm has a market capitalization of $160.01 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $21.79 and its two-hundred day moving average price is $19.63.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s payout ratio is 90.24%.

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.