Palouse Capital Management Inc. Sells 4,083 Shares of AT&T Inc. (NYSE:T)

Palouse Capital Management Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,196 shares of the technology company’s stock after selling 4,083 shares during the period. Palouse Capital Management Inc.’s holdings in AT&T were worth $2,236,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of T. AMF Tjanstepension AB boosted its position in shares of AT&T by 305.1% during the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares during the last quarter. Creative Planning boosted its position in AT&T by 2.8% in the third quarter. Creative Planning now owns 1,564,777 shares of the technology company’s stock worth $34,413,000 after purchasing an additional 43,218 shares during the last quarter. Marshall Financial Group LLC purchased a new position in AT&T in the third quarter worth about $317,000. Secure Asset Management LLC boosted its position in AT&T by 11.4% in the third quarter. Secure Asset Management LLC now owns 40,539 shares of the technology company’s stock worth $892,000 after purchasing an additional 4,137 shares during the last quarter. Finally, Bar Harbor Wealth Management boosted its position in AT&T by 2.2% in the third quarter. Bar Harbor Wealth Management now owns 31,840 shares of the technology company’s stock worth $700,000 after purchasing an additional 684 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday. Finally, Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Performance

NYSE:T opened at $25.88 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $25.93. The stock’s 50 day simple moving average is $23.23 and its two-hundred day simple moving average is $22.04. The company has a market cap of $185.66 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is 74.50%.

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.