Balentine LLC Has $221,000 Stock Position in AT&T Inc. (NYSE:T)

Balentine LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 39.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,158 shares of the technology company’s stock after selling 8,554 shares during the quarter. Balentine LLC’s holdings in AT&T were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of T. Ramirez Asset Management Inc. acquired a new position in shares of AT&T in the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. Financial Gravity Asset Management Inc. raised its stake in AT&T by 3,202.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in shares of AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after acquiring an additional 2,241 shares during the period. Finally, Northwest Financial Advisors acquired a new stake in shares of AT&T in the 4th quarter valued at $50,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $17.47 on Friday. The firm has a market capitalization of $125.26 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average price is $17.04 and its two-hundred day moving average price is $16.84. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was down .4% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.35%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on T shares. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.81.

About AT&T

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.