Balentine LLC Has $223,000 Holdings in AT&T Inc. (NYSE:T)

Balentine LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 16.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,791 shares of the technology company’s stock after selling 1,875 shares during the period. Balentine LLC’s holdings in AT&T were worth $223,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of T. Geode Capital Management LLC increased its holdings in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. FMR LLC grew its holdings in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after buying an additional 1,149,688 shares in the last quarter. Swiss National Bank raised its position in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in AT&T by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock valued at $399,467,000 after acquiring an additional 325,073 shares in the last quarter. Finally, National Pension Service boosted its holdings in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Tigress Financial boosted their price target on shares of AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group increased their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays lifted their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.21.

AT&T Price Performance

T stock opened at $24.86 on Tuesday. The firm has a 50 day simple moving average of $23.04 and a two-hundred day simple moving average of $21.86. The stock has a market cap of $178.38 billion, a PE ratio of 16.68, a P/E/G ratio of 2.79 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.47%. AT&T’s dividend payout ratio is 74.50%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.