First Horizon Advisors Inc. Sells 23,997 Shares of AT&T Inc. (NYSE:T)

First Horizon Advisors Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 941,372 shares of the technology company’s stock after selling 23,997 shares during the quarter. First Horizon Advisors Inc.’s holdings in AT&T were worth $15,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Pinnacle Associates Ltd. lifted its stake in AT&T by 8.8% during the third quarter. Pinnacle Associates Ltd. now owns 432,835 shares of the technology company’s stock worth $6,501,000 after purchasing an additional 35,102 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of AT&T by 5.9% during the 3rd quarter. Mission Wealth Management LP now owns 42,842 shares of the technology company’s stock worth $643,000 after buying an additional 2,404 shares during the last quarter. Dakota Wealth Management boosted its stake in AT&T by 9.9% in the third quarter. Dakota Wealth Management now owns 81,268 shares of the technology company’s stock valued at $1,221,000 after buying an additional 7,348 shares in the last quarter. Simon Quick Advisors LLC grew its position in AT&T by 12.9% in the third quarter. Simon Quick Advisors LLC now owns 25,682 shares of the technology company’s stock valued at $386,000 after acquiring an additional 2,935 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of AT&T by 32.1% in the third quarter. Stratos Wealth Advisors LLC now owns 70,762 shares of the technology company’s stock worth $1,063,000 after acquiring an additional 17,209 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.8 %

T stock traded down $0.13 during mid-day trading on Thursday, reaching $16.79. 13,248,102 shares of the company traded hands, compared to its average volume of 39,058,043. The firm’s 50 day moving average price is $16.96 and its 200 day moving average price is $16.62. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a market cap of $120.10 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.61%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial raised their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Oppenheimer upgraded shares of 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. Finally, Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

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.