Banced Corp Sells 13,926 Shares of AT&T Inc. (T)

Banced Corp cut its holdings in shares of AT&T Inc. (NYSE:T) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,332 shares of the technology company’s stock after selling 13,926 shares during the quarter. AT&T comprises approximately 1.6% of Banced Corp’s investment portfolio, making the stock its 16th biggest position. Banced Corp’s holdings in AT&T were worth $752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chessman Wealth Strategies RIA purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $114,000. Stelac Advisory Services LLC purchased a new position in shares of AT&T in the 3rd quarter valued at approximately $121,000. Hoertkorn Richard Charles grew its stake in shares of AT&T by 66.7% in the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the last quarter. Advocacy Wealth Management Services LLC grew its stake in shares of AT&T by 10.6% in the 4th quarter. Advocacy Wealth Management Services LLC now owns 5,200 shares of the technology company’s stock valued at $148,000 after purchasing an additional 500 shares during the last quarter. Finally, Lenox Wealth Management Inc. grew its stake in shares of AT&T by 184.6% in the 3rd quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after purchasing an additional 3,742 shares during the last quarter. Institutional investors and hedge funds own 64.59% of the company’s stock.

T stock traded up $0.08 during trading on Friday, reaching $32.03. 23,317,482 shares of the stock traded hands, compared to its average volume of 27,865,510. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $35.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.86. The company has a market cap of $196.63 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm had revenue of $47.99 billion during the quarter, compared to the consensus estimate of $48.50 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 3.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 57.95%.

In other news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

Several analysts have recently commented on the company. ValuEngine cut AT&T from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Cowen reissued a “buy” rating and issued a $35.00 price target on shares of AT&T in a report on Thursday, January 31st. Desjardins reissued an “average” rating and issued a $56.50 price target on shares of AT&T in a report on Friday, April 5th. Barclays set a $32.00 price target on AT&T and gave the company a “hold” rating in a report on Friday, January 18th. Finally, Raymond James raised AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Friday, March 15th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.26.

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AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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