Birmingham Capital Management Co. Inc. AL Cuts Position in AT&T Inc. (NYSE:T)

Birmingham Capital Management Co. Inc. AL lessened its position in shares of AT&T Inc. (NYSE:TFree Report) by 14.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,980 shares of the technology company’s stock after selling 5,430 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in AT&T were worth $520,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of T. Norges Bank purchased a new position in shares of AT&T in the 4th quarter valued at $1,118,288,000. Ameriprise Financial Inc. increased its position in shares of AT&T by 185.6% during the third quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 purchasing an additional 32,558,342 shares during the last quarter. Thornburg Investment Management Inc. purchased a new stake in AT&T in the fourth quarter valued at approximately $316,472,000. Finally, Kodai Capital Management LP purchased a new stake in shares of AT&T during the fourth quarter worth approximately $152,109,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.1 %

T stock traded down $0.02 during midday trading on Friday, hitting $17.65. The stock had a trading volume of 22,639,712 shares, compared to its average volume of 36,695,395. The company’s 50-day moving average price is $17.18 and its 200 day moving average price is $17.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $126.55 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.45.

AT&T (NYSE:TGet Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday, April 29th. lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Scotiabank increased their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Five investment 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.32.

Read Our Latest Research Report on AT&T

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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