AT&T Inc. (NYSE:T) Stock Position Lowered by Park Place Capital Corp

Park Place Capital Corp trimmed its stake in AT&T Inc. (NYSE:T) by 25.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,688 shares of the technology company’s stock after selling 6,621 shares during the quarter. Park Place Capital Corp’s holdings in AT&T were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Reston Wealth Management LLC bought a new position in AT&T during the third quarter worth about $35,000. Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the 3rd quarter valued at $35,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $36,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $22.17 on Wednesday. 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’s 50-day moving average price is $22.80 and its 200 day moving average price is $21.40. The firm has a market capitalization of $159.04 billion, a PE ratio of 18.02, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.01%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on T shares. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Sanford C. Bernstein initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Oppenheimer began coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Company 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.