Palouse Capital Management Inc. Sells 8,468 Shares of AT&T Inc. (NYSE:T)

Palouse Capital Management Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 7.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 110,704 shares of the technology company’s stock after selling 8,468 shares during the period. Palouse Capital Management Inc.’s holdings in AT&T were worth $1,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Carmel Capital Partners LLC increased its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares in the last quarter. FWL Investment Management LLC bought a new position in AT&T during the 4th quarter worth about $31,000. Financial Freedom LLC bought a new position in AT&T during the 4th quarter worth about $34,000. Lipe & Dalton bought a new position in AT&T during the 3rd quarter worth about $30,000. Finally, Ramirez Asset Management Inc. bought a new position in AT&T during the 3rd quarter worth about $30,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, Barclays increased their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Performance

Shares of T traded up $0.18 during mid-day trading on Friday, hitting $16.51. 45,814,895 shares of the company’s stock were exchanged, compared to its average volume of 38,577,504. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.72. The stock’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $16.49. The firm has a market cap of $118.09 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.72%. AT&T’s dividend payout ratio (DPR) is 56.63%.

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.