Simmons Bank Has $1.13 Million Holdings in AT&T Inc. (NYSE:T)

Simmons Bank lowered its stake in shares of AT&T Inc. (NYSE:T) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,115 shares of the technology company’s stock after selling 9,428 shares during the period. Simmons Bank’s holdings in AT&T were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings 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 valued at $790,301,000 after purchasing an additional 34,189,954 shares in the last quarter. FMR LLC lifted its stake in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of AT&T by 38.0% in the third quarter. California Public Employees Retirement System now owns 34,558,594 shares of the technology company’s stock valued at $519,070,000 after buying an additional 9,518,478 shares during the period. Barclays PLC increased its position in shares of AT&T by 30.6% during the third quarter. Barclays PLC now owns 26,227,124 shares of the technology company’s stock worth $393,931,000 after acquiring an additional 6,137,909 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of AT&T by 43.0% during the third quarter. AQR Capital Management LLC now owns 14,739,648 shares of the technology company’s stock worth $221,242,000 after acquiring an additional 4,432,136 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on T shares. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Tigress Financial lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

T stock traded up $0.05 during trading hours on Wednesday, reaching $17.13. The stock had a trading volume of 15,962,334 shares, compared to its average volume of 38,550,602. The stock has a market capitalization of $122.83 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The stock has a 50-day simple moving average of $16.98 and a 200 day simple moving average of $16.69. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.48%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company 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.