Pinnacle Bank lifted its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,141 shares of the technology company’s stock after purchasing an additional 545 shares during the quarter. Pinnacle Bank’s holdings in AT&T were worth $637,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in T. Voloridge Investment Management LLC increased its stake in shares of AT&T by 850.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 12,181,178 shares of the technology company’s stock worth $347,285,000 after purchasing an additional 10,900,074 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in AT&T by 192.3% in the 2nd quarter. Two Sigma Advisers LP now owns 5,411,631 shares of the technology company’s stock valued at $163,594,000 after purchasing an additional 3,560,031 shares during the period. Handelsbanken Fonder AB bought a new stake in AT&T in the 2nd quarter valued at $54,215,000. Morgan Stanley lifted its holdings in shares of AT&T by 2.2% during the 3rd quarter. Morgan Stanley now owns 75,022,082 shares of the technology company’s stock worth $2,138,879,000 after acquiring an additional 1,628,117 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of AT&T during the 3rd quarter worth about $40,784,000. Institutional investors own 52.29% of the company’s stock.
AT&T stock traded down $0.11 during mid-day trading on Wednesday, hitting $28.64. 1,101,122 shares of the company’s stock were exchanged, compared to its average volume of 52,354,098. The company’s 50 day simple moving average is $29.37 and its 200-day simple moving average is $29.09. The firm has a market capitalization of $204.09 billion, a P/E ratio of 17.52, a PEG ratio of 1.52 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.14.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, January 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.26%. AT&T’s dividend payout ratio is presently 58.26%.
T has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $38.00 price objective on shares of AT&T in a report on Thursday, October 1st. Credit Suisse Group dropped their target price on shares of AT&T from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. BidaskClub cut shares of AT&T from a “sell” rating to a “strong sell” rating in a research report on Friday, December 18th. Wells Fargo & Company reiterated an “underweight” rating and set a $25.00 target price on shares of AT&T in a research report on Monday, November 16th. Finally, Barclays started coverage on shares of AT&T in a research report on Friday, October 2nd. They set an “overweight” rating for the company. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. AT&T currently has an average rating of “Hold” and a consensus price target of $32.40.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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