Perkins Coie Trust Co Sells 8,242 Shares of AT&T Inc. (NYSE:T)

Perkins Coie Trust Co lessened its holdings in AT&T Inc. (NYSE:T) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 131,347 shares of the technology company’s stock after selling 8,242 shares during the period. Perkins Coie Trust Co’s holdings in AT&T were worth $2,991,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Clarius Group LLC lifted its stake in shares of AT&T by 5.9% in the 4th quarter. Clarius Group LLC now owns 33,403 shares of the technology company’s stock valued at $761,000 after purchasing an additional 1,866 shares during the period. Aaron Wealth Advisors LLC lifted its stake in AT&T by 14.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 41,502 shares of the technology company’s stock valued at $945,000 after buying an additional 5,224 shares during the period. Whitaker Myers Wealth Managers LTD. acquired a new position in AT&T in the fourth quarter valued at about $332,000. Moss Adams Wealth Advisors LLC boosted its holdings in AT&T by 12.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 16,991 shares of the technology company’s stock worth $387,000 after buying an additional 1,864 shares during the last quarter. Finally, Veery Capital LLC acquired a new position in shares of AT&T during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. UBS Group upped their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Up 1.2 %

Shares of T stock opened at $22.30 on Friday. The firm’s fifty day moving average price is $22.79 and its two-hundred day moving average price is $21.31. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is presently 90.24%.

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.