Procyon Advisors LLC Sells 6,064 Shares of AT&T Inc. (NYSE:T)

Procyon Advisors LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,320 shares of the technology company’s stock after selling 6,064 shares during the period. Procyon Advisors LLC’s holdings in AT&T were worth $760,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its stake in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after buying an additional 76,746,649 shares during the last quarter. Norges Bank bought a new position in AT&T in the 4th quarter valued at about $1,229,499,000. Ameriprise Financial Inc. increased its holdings in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares during the period. FMR LLC increased its holdings in AT&T by 130.5% in the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares during the period. Finally, Morgan Stanley increased its holdings in AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Tuesday, March 5th. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $21.61.

AT&T Stock Performance

Shares of T stock remained flat at $17.55 during trading hours on Thursday. 5,545,434 shares of the company’s stock traded hands, compared to its average volume of 38,395,301. The stock has a market capitalization of $125.53 billion, a P/E ratio of 8.97, a PEG ratio of 2.59 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.99. The stock has a 50-day simple moving average of $17.08 and a 200 day simple moving average of $16.26. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

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

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.