Renasant Bank Has $351,000 Holdings in AT&T Inc. $T

Renasant Bank lessened its position in AT&T Inc. (NYSE:T) by 19.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,128 shares of the technology company’s stock after selling 3,020 shares during the quarter. Renasant Bank’s holdings in AT&T were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Denali Advisors LLC raised its position in AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden grew its stake in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new position in shares of AT&T in the 2nd quarter worth approximately $489,000. Finally, Sentry Investment Management LLC lifted its position in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $25.19 on Wednesday. The company has a market cap of $178.55 billion, a PE ratio of 8.18, a PEG ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company’s 50-day moving average is $26.97 and its two-hundred day moving average is $27.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T’s payout ratio is 36.04%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

About AT&T

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.