AT&T Inc. (NYSE:T) Stock Holdings Trimmed by RNC Capital Management LLC

RNC Capital Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,908,657 shares of the technology company’s stock after selling 90,253 shares during the period. AT&T makes up approximately 3.5% of RNC Capital Management LLC’s holdings, making the stock its 4th biggest holding. RNC Capital Management LLC’s holdings in AT&T were worth $66,230,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in T. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. YANKCOM Partnership acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $30,000. Endeavor Private Wealth Inc. bought a new stake in shares of AT&T during the fourth quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC acquired a new position in shares of AT&T during the third quarter worth approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on T shares. Tigress Financial increased their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Thursday, January 16th. Barclays increased their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T Stock Performance

T opened at $24.46 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $175.47 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The stock has a 50-day moving average of $22.99 and a 200-day moving average of $21.75. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.54%. AT&T’s payout ratio is 74.50%.

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.