AT&T Inc. $T Stake Lessened by Cadence Bank

Cadence Bank trimmed its position in shares of AT&T Inc. (NYSE:T) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,400 shares of the technology company’s stock after selling 2,770 shares during the period. Cadence Bank’s holdings in AT&T were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the fourth quarter worth $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter worth $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the fourth quarter worth $27,000. Finally, Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE T opened at $28.7290 on Friday. AT&T Inc. has a fifty-two week low of $19.51 and a fifty-two week high of $29.65. The stock’s 50-day moving average is $27.99 and its two-hundred day moving average is $27.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $205.42 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Finally, Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.21.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.