Sheets Smith Wealth Management decreased its stake in AT&T Inc. (NYSE:T) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,657 shares of the technology company’s stock after selling 1,594 shares during the quarter. Sheets Smith Wealth Management’s holdings in AT&T were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in T. BNC Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $27,000. ELM Advisors LLC acquired a new position in AT&T in the fourth quarter valued at about $59,000. Cerebellum GP LLC acquired a new position in AT&T in the third quarter valued at about $62,000. Provident Wealth Management LLC acquired a new position in AT&T in the third quarter valued at about $70,000. Finally, Planned Solutions Inc. acquired a new position in AT&T in the third quarter valued at about $81,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on T shares. KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a report on Monday, October 5th. National Bank Financial upgraded AT&T to an “outperform” rating and increased their price target for the stock from $25.00 to $27.00 in a report on Monday, November 9th. Oppenheimer restated a “buy” rating and issued a $38.00 price target on shares of AT&T in a report on Thursday, October 1st. Royal Bank of Canada lowered their price target on AT&T from $32.00 to $30.00 in a report on Monday, October 26th. Finally, Wolfe Research started coverage on AT&T in a report on Monday, October 19th. They issued a “peer perform” rating and a $31.00 price target for the company. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.40.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business had revenue of $42.43 billion during the quarter, compared to analyst estimates of $41.66 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The business’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities research analysts anticipate that AT&T Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be given a $0.52 dividend. The ex-dividend date is Friday, January 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.27%. AT&T’s payout ratio is 58.26%.
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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