National Bank of Canada FI Sells 249,979 Shares of AT&T Inc. (NYSE:T)

National Bank of Canada FI decreased its position in shares of AT&T Inc. (NYSE:T) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,315,994 shares of the technology company’s stock after selling 249,979 shares during the period. National Bank of Canada FI’s holdings in AT&T were worth $57,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Sora Investors LLC purchased a new stake in AT&T in the third quarter worth $11,265,000. Provence Wealth Management Group increased its stake in AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares during the period. Checchi Capital Advisers LLC lifted its holdings in AT&T by 3.1% during the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after buying an additional 1,178 shares in the last quarter. Retireful LLC purchased a new stake in AT&T in the 4th quarter valued at about $1,163,000. Finally, Brighton Jones LLC grew its stake in AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after acquiring an additional 5,161 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on T. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Scotiabank lifted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Tigress Financial raised their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Performance

Shares of NYSE:T traded up $0.03 during trading on Friday, hitting $16.85. 24,023,192 shares of the stock traded hands, compared to its average volume of 41,324,028. The company has a fifty day moving average price of $16.97 and a two-hundred day moving average price of $16.67. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The company has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

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

AT&T Announces Dividend

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

About AT&T

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.