Oakworth Capital Inc. Cuts Stock Position in AT&T Inc. (NYSE:T)

Oakworth Capital Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 26.1% in the fourth quarter, HoldingsChannel reports. The firm owned 6,899 shares of the technology company’s stock after selling 2,433 shares during the quarter. Oakworth Capital Inc.’s holdings in AT&T were worth $157,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Chesapeake Wealth Management boosted its stake in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the period. Luts & Greenleigh Group Inc. raised its holdings in AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after acquiring an additional 460 shares in the last quarter. Socha Financial Group LLC lifted its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC grew its holdings in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after acquiring an additional 468 shares in the last quarter. Finally, Essex Savings Bank increased its position in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. Finally, DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.21.

AT&T Stock Performance

Shares of T opened at $24.46 on Friday. The stock has a market capitalization of $175.47 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company’s fifty day moving average is $22.99 and its two-hundred day moving average is $21.75.

AT&T (NYSE:T) last issued its quarterly earnings results 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%. On average, sell-side analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.54%. AT&T’s dividend payout ratio is currently 74.50%.

About AT&T

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.