Parkside Financial Bank & Trust Lowers Stake in AT&T Inc. (NYSE:T)

Parkside Financial Bank & Trust reduced its position in shares of AT&T Inc. (NYSE:T) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,024 shares of the technology company’s stock after selling 2,974 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AT&T were worth $1,139,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. QRG Capital Management Inc. raised its position in shares of AT&T by 7.5% during the 4th quarter. QRG Capital Management Inc. now owns 1,742,080 shares of the technology company’s stock worth $39,667,000 after purchasing an additional 121,702 shares during the last quarter. Versor Investments LP acquired a new position in shares of AT&T during the 4th quarter worth about $381,000. Motiv8 Investments LLC acquired a new position in shares of AT&T during the 4th quarter worth about $209,000. Proficio Capital Partners LLC raised its position in shares of AT&T by 2,552.6% during the 4th quarter. Proficio Capital Partners LLC now owns 546,517 shares of the technology company’s stock worth $12,444,000 after purchasing an additional 525,914 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of AT&T by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,242,755 shares of the technology company’s stock worth $28,298,000 after purchasing an additional 60,520 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $26.90 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $193.09 billion, a P/E ratio of 18.05, a PEG ratio of 3.00 and a beta of 0.59. The company has a 50 day moving average price of $23.82 and a 200 day moving average price of $22.49. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.13%. AT&T’s payout ratio is currently 74.50%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer assumed 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 for the company. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 29th. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T 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.