White Pine Capital LLC Has $1.60 Million Holdings in AT&T Inc. (NYSE:T)

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

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Newport Trust Company LLC boosted its position in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after acquiring an additional 673,043 shares in the last quarter. Northern Trust Corp boosted its position in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after acquiring an additional 1,828,237 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock worth $905,258,000 after acquiring an additional 334,222 shares in the last quarter. FMR LLC boosted its position in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on T. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Scotiabank raised their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Tigress Financial raised their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Stock Up 1.0 %

NYSE:T traded up $0.17 during trading hours on Friday, reaching $16.75. The company had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market cap of $119.81 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 2.50 and a beta of 0.57. The business’s 50-day simple moving average is $16.96 and its two-hundred day simple moving average is $16.56. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

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

AT&T 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.