Parsons Capital Management Inc. RI Has $669,000 Holdings in AT&T Inc. (NYSE:T)

Parsons Capital Management Inc. RI cut its holdings in AT&T Inc. (NYSE:T) by 40.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,382 shares of the technology company’s stock after selling 19,777 shares during the period. Parsons Capital Management Inc. RI’s holdings in AT&T were worth $669,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of T. International Assets Investment Management LLC bought a new position in AT&T in the 4th quarter worth $14,700,000. Swiss National Bank grew its position in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Caprock Group LLC lifted its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $7,438,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T opened at $24.43 on Wednesday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.58. The company has a 50 day moving average of $22.83 and a 200-day moving average of $21.51. 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 cap of $175.26 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. On average, equities analysts forecast that AT&T Inc. will post 2.21 earnings per share 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. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on T shares. The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Argus raised shares of 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. Evercore ISI increased their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.06.

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.