White Pine Capital LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

White Pine Capital LLC lowered its holdings in AT&T Inc. (NYSE:T) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,483 shares of the technology company’s stock after selling 5,423 shares during the period. White Pine Capital LLC’s holdings in AT&T were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carmel Capital Partners LLC lifted its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton acquired a new position in shares of AT&T during the third quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new position in shares of AT&T during the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in shares of AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded up $0.17 during trading on Friday, reaching $16.75. The stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The firm has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The stock has a 50 day moving average of $16.96 and a two-hundred day moving average of $16.56.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm 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%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Scotiabank boosted their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. Tigress Financial boosted 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. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

About AT&T

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.