AT&T Inc. $T Stock Position Trimmed by OneAscent Financial Services LLC

OneAscent Financial Services LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 64.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,445 shares of the technology company’s stock after selling 29,834 shares during the period. OneAscent Financial Services LLC’s holdings in AT&T were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.6% during the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. State Street Corp raised its stake in AT&T by 2.4% during the 2nd quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after acquiring an additional 7,404,376 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in AT&T during the 2nd quarter worth $5,266,758,000. Geode Capital Management LLC grew its stake in shares of AT&T by 1.2% in the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after purchasing an additional 2,066,026 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AT&T during the second quarter valued at $2,228,655,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Royal Bank Of Canada reduced their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley lowered their price target on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, Wolfe Research lowered AT&T from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.83.

AT&T Trading Up 0.6%

AT&T stock opened at $24.71 on Tuesday. The firm has a market cap of $175.14 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 1.31 and a beta of 0.39. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $26.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.