AT&T Inc. (NYSE:T) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC cut its position in shares of AT&T Inc. (NYSE:T) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,320 shares of the technology company’s stock after selling 6,064 shares during the quarter. 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 added to or reduced their stakes in the company. Carmel Capital Partners LLC raised its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. FWL Investment Management LLC acquired a new position in AT&T during the fourth quarter worth about $31,000. Financial Freedom LLC acquired a new position in AT&T during the fourth quarter worth about $34,000. Lipe & Dalton acquired a new position in AT&T during the third quarter worth about $30,000. Finally, Ramirez Asset Management Inc. acquired a new position in AT&T during the third quarter worth about $30,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T remained flat at $17.55 during mid-day trading on Thursday. The stock had a trading volume of 5,545,434 shares, compared to its average volume of 38,395,301. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.99. The stock has a market cap of $125.53 billion, a PE ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57. The business’s fifty day moving average price is $17.08 and its 200-day moving average price is $16.26. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.61.

AT&T Profile

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.