SouthState Corp Trims Stock Holdings in AT&T Inc. (NYSE:T)

SouthState Corp lessened its holdings in shares of AT&T Inc. (NYSE:T) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,342 shares of the technology company’s stock after selling 3,508 shares during the period. SouthState Corp’s holdings in AT&T were worth $341,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC lifted its stake in shares of AT&T by 46.0% in the third quarter. Miracle Mile Advisors LLC now owns 38,075 shares of the technology company’s stock worth $572,000 after buying an additional 11,989 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of AT&T by 11.0% in the third quarter. Intellectus Partners LLC now owns 17,791 shares of the technology company’s stock worth $267,000 after purchasing an additional 1,760 shares during the last quarter. Kennedy Investment Group boosted its position in shares of AT&T by 39.7% during the third quarter. Kennedy Investment Group now owns 26,920 shares of the technology company’s stock valued at $404,000 after buying an additional 7,655 shares during the last quarter. Jacobsen Capital Management bought a new stake in AT&T in the 3rd quarter worth about $238,000. Finally, Godsey & Gibb Inc. lifted its stake in AT&T by 3.6% during the 3rd quarter. Godsey & Gibb Inc. now owns 819,459 shares of the technology company’s stock valued at $12,308,000 after acquiring an additional 28,112 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Tigress Financial increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Price Performance

NYSE T traded up $0.03 during trading hours on Friday, reaching $16.85. The company’s stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $120.52 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 3.31 and a beta of 0.57. The firm’s 50-day moving average price is $16.97 and its 200-day moving average price is $16.62.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.59%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.