Whitener Capital Management Inc. Sells 962 Shares of AT&T Inc. (NYSE:T)

Whitener Capital Management Inc. cut its stake in shares of AT&T Inc. (NYSE:TFree Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,869 shares of the technology company’s stock after selling 962 shares during the period. Whitener Capital Management Inc.’s holdings in AT&T were worth $316,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the period. FMR LLC raised its position in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Legal & General Group Plc raised its holdings in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Ameriprise Financial Inc. increased its stake in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of AT&T by 2.5% during the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T opened at $22.30 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The stock has a market cap of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The business’s fifty day moving average is $22.79 and its 200 day moving average is $21.29. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:TGet Free Report) last posted its 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 analyst estimates of $30.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. UBS Group raised their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Check Out Our Latest Analysis on T

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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