Simmons Bank Has $956,000 Position in AT&T Inc. (NYSE:T)

Simmons Bank lessened its holdings in shares of AT&T Inc. (NYSE:T) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,439 shares of the technology company’s stock after selling 4,240 shares during the quarter. Simmons Bank’s holdings in AT&T were worth $956,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter worth approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on T shares. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Oppenheimer upped their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

NYSE T opened at $22.30 on Thursday. AT&T Inc. has a 1-year low of $15.52 and a 1-year high of $22.73. The company has a 50 day moving average of $21.79 and a 200-day moving average of $19.63. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market cap of $160.01 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.33 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s payout ratio is 90.24%.

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.