Cahaba Wealth Management Inc. Sells 850 Shares of AT&T Inc. (NYSE:T)

Cahaba Wealth Management Inc. trimmed its position in shares of AT&T Inc. (NYSE:TFree Report) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,072 shares of the technology company’s stock after selling 850 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in AT&T were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonegate Investment Group LLC lifted its holdings in shares of AT&T by 6.3% during the 4th quarter. Stonegate Investment Group LLC now owns 51,997 shares of the technology company’s stock valued at $873,000 after buying an additional 3,059 shares during the period. Bell Bank lifted its holdings in shares of AT&T by 0.9% during the 4th quarter. Bell Bank now owns 440,735 shares of the technology company’s stock valued at $7,396,000 after buying an additional 4,008 shares during the period. Princeton Global Asset Management LLC lifted its holdings in shares of AT&T by 6.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 18,448 shares of the technology company’s stock valued at $310,000 after buying an additional 1,162 shares during the period. Drive Wealth Management LLC bought a new position in shares of AT&T during the 4th quarter valued at $406,000. Finally, Oak Thistle LLC bought a new position in shares of AT&T during the 4th quarter valued at $1,050,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.2 %

Shares of NYSE:T traded up $0.04 during trading on Tuesday, reaching $17.54. The company’s stock had a trading volume of 40,163,314 shares, compared to its average volume of 38,718,438. 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 Inc. has a 12 month low of $13.43 and a 12 month high of $19.99. The firm’s 50 day simple moving average is $17.16 and its two-hundred day simple moving average is $16.35. The stock has a market capitalization of $125.46 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.57.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.33%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 56.63%.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Barclays upped their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.61.

Get Our Latest Stock Report on T

About AT&T

(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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