AT&T Inc. (NYSE:T) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,746 shares of the technology company’s stock after selling 37,810 shares during the period. Everence Capital Management Inc.’s holdings in AT&T were worth $3,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares during the period. FWL Investment Management LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $31,000. Financial Freedom LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $34,000. Lipe & Dalton purchased a new stake in shares of AT&T during the third quarter worth about $30,000. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the third quarter worth about $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Barclays upped their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Tigress Financial upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup upped their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.68.

AT&T Stock Down 0.9 %

Shares of NYSE T traded down $0.15 during mid-day trading on Tuesday, reaching $16.09. The company had a trading volume of 49,169,634 shares, compared to its average volume of 38,466,574. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a 50 day simple moving average of $17.07 and a two-hundred day simple moving average of $16.48. The stock has a market cap of $115.09 billion, a P/E ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.92.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same period last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

AT&T 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.