Bank OZK Sells 21,327 Shares of AT&T Inc. (NYSE:T)

Bank OZK decreased its holdings in AT&T Inc. (NYSE:T) by 47.7% in the fourth quarter, Holdings Channel reports. The firm owned 23,389 shares of the technology company’s stock after selling 21,327 shares during the quarter. Bank OZK’s holdings in AT&T were worth $392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Carmel Capital Partners LLC grew its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton bought a new stake in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T in the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its holdings in shares of AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. 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 report on Friday, January 19th. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, Barclays raised their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Price Performance

T traded up $0.17 during trading on Friday, reaching $16.75. The company’s stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $16.96 and a two-hundred day simple moving average of $16.57. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a market cap of $119.81 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 2.53 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 59.68%.

AT&T Company 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.