Perkins Coie Trust Co Has $2.99 Million Stock Position in AT&T Inc. (NYSE:T)

Perkins Coie Trust Co lowered its stake in AT&T Inc. (NYSE:T) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,347 shares of the technology company’s stock after selling 8,242 shares during the quarter. Perkins Coie Trust Co’s holdings in AT&T were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blair William & Co. IL lifted its holdings in shares of AT&T by 4.4% in the second quarter. Blair William & Co. IL now owns 406,190 shares of the technology company’s stock valued at $7,762,000 after purchasing an additional 17,001 shares in the last quarter. Ieq Capital LLC lifted its stake in AT&T by 30.9% in the 2nd quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after acquiring an additional 74,764 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in AT&T by 110.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after acquiring an additional 3,228,888 shares during the period. Bridges Investment Management Inc. grew its stake in AT&T by 1.5% during the 2nd quarter. Bridges Investment Management Inc. now owns 41,764 shares of the technology company’s stock valued at $798,000 after acquiring an additional 621 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of AT&T by 7.6% in the 2nd quarter. Sei Investments Co. now owns 2,876,014 shares of the technology company’s stock valued at $54,961,000 after purchasing an additional 202,159 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $22.30 on Friday. The stock’s fifty day simple moving average is $22.79 and its 200 day simple moving average is $21.31. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The firm has a market cap of $159.97 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, analysts expect that AT&T Inc. will post 2.2 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 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of brokerages have issued reports on T. Citigroup lifted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Company 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.