Oakworth Capital Inc. Has $178,000 Stake in AT&T Inc. (NYSE:T)

Oakworth Capital Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,311 shares of the technology company’s stock after selling 588 shares during the quarter. Oakworth Capital Inc.’s holdings in AT&T were worth $178,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC grew its position in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC increased its stake in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. Finally, Northern Trust Corp grew its holdings in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on T. Oppenheimer upped their target price on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI increased their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, April 24th. TD Securities lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Finally, UBS Group reissued a “buy” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.76.

AT&T Stock Up 0.4%

Shares of NYSE:T opened at $28.04 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market cap of $201.73 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.96 and a beta of 0.41. The company has a 50 day moving average of $27.61 and a 200-day moving average of $25.91. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.96%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

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.