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

SouthState Corp lessened its position in shares of AT&T Inc. (NYSE:T) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,770 shares of the technology company’s stock after selling 944 shares during the period. SouthState Corp’s holdings in AT&T were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in T. Vanguard Group Inc. increased its stake in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. Northern Trust Corp increased its stake in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the last quarter. Capital World Investors increased its stake in AT&T by 5.2% in the 4th quarter. Capital World Investors now owns 57,425,387 shares of the technology company’s stock worth $1,307,576,000 after acquiring an additional 2,841,837 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in AT&T by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 52,032,367 shares of the technology company’s stock worth $1,184,717,000 after acquiring an additional 2,992,073 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Evercore ISI increased their price objective on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.66.

AT&T Trading Up 0.2%

NYSE T opened at $28.15 on Tuesday. AT&T Inc. has a fifty-two week low of $18.97 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a 50 day simple moving average of $27.84 and a two-hundred day simple moving average of $27.11. The stock has a market cap of $201.28 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

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.