Cullen Frost Bankers Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 764,769 shares of the technology company's stock after selling 258,664 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in AT&T were worth $12,833,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of T. Carmel Capital Partners LLC lifted its stake in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company's stock worth $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton bought a new position in AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock worth $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC increased its position in AT&T by 588.2% in the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company's stock worth $44,000 after buying an additional 2,241 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on T. TheStreet raised AT&T from a "c" rating to a "b-" rating in a research report on Wednesday, January 24th. Barclays raised AT&T from an "equal weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. Royal Bank of Canada reissued a "sector perform" rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Finally, Citigroup raised their price target on AT&T from $19.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.81.
Get Our Latest Stock Report on T
AT&T Stock Performance
Shares of T stock traded up $0.03 during trading on Wednesday, reaching $17.11. The company had a trading volume of 24,716,345 shares, compared to its average volume of 38,659,590. The firm's 50 day simple moving average is $16.98 and its two-hundred day simple moving average is $16.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The company has a market capitalization of $122.68 billion, a PE ratio of 9.20, a PEG ratio of 3.32 and a beta of 0.57.
AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for 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 company's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.
AT&T Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.49%. The ex-dividend date was Tuesday, April 9th. AT&T's dividend payout ratio is currently 59.68%.
About AT&T
(
Free Report)
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.
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