AT&T Inc. (NYSE:T) Position Reduced by White Pine Capital LLC

White Pine Capital LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 83,075 shares of the technology company’s stock after selling 463 shares during the period. White Pine Capital LLC’s holdings in AT&T were worth $1,892,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $14,700,000. Swiss National Bank grew its position in AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Caprock Group LLC lifted its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of AT&T by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock worth $8,928,000 after acquiring an additional 26,706 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, January 16th. Barclays boosted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $26.33.

AT&T Stock Performance

T stock opened at $25.63 on Friday. The firm has a 50 day moving average of $23.15 and a two-hundred day moving average of $21.96. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $25.74. The company has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s 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.