Procyon Advisors LLC Trims Position in AT&T Inc. (NYSE:T)

Procyon Advisors LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,320 shares of the technology company’s stock after selling 6,064 shares during the quarter. Procyon Advisors LLC’s holdings in AT&T were worth $760,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Axiom Financial Strategies LLC increased its stake in AT&T by 12.2% during the first quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock worth $342,000 after purchasing an additional 1,941 shares during the period. Roundview Capital LLC grew its position in AT&T by 62.3% in the 1st quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock valued at $582,000 after buying an additional 9,450 shares during the last quarter. Sei Investments Co. grew its position in AT&T by 23.1% in the 1st quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock valued at $25,983,000 after buying an additional 206,434 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in AT&T by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock valued at $11,262,000 after acquiring an additional 25,028 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in AT&T by 1,191.3% in the first quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after acquiring an additional 11,722 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

T remained flat at $17.55 during trading on Thursday. The company’s stock had a trading volume of 5,545,434 shares, compared to its average volume of 38,395,301. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The business’s fifty day simple moving average is $17.08 and its two-hundred day simple moving average is $16.26. The stock has a market capitalization of $125.53 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on AT&T from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Citigroup upped their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $21.61.

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.