Cadence Bank Has $897,000 Holdings in AT&T Inc. (NYSE:T)

Cadence Bank lessened its position in shares of AT&T Inc. (NYSE:T) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 40,772 shares of the technology company’s stock after selling 492 shares during the quarter. Cadence Bank’s holdings in AT&T were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new position in shares of AT&T during the 2nd quarter worth approximately $23,888,000. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares in the last quarter. Talbot Financial LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $7,438,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Trading Up 0.8 %

NYSE T opened at $23.27 on Thursday. The firm has a market capitalization of $166.97 billion, a P/E ratio of 18.92, a PEG ratio of 3.47 and a beta of 0.59. The business has a fifty day simple moving average of $22.10 and a 200 day simple moving average of $20.07. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.38. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company 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.