Hancock Whitney Corp Purchases 14,969 Shares of AT&T Inc. (NYSE:T)

Hancock Whitney Corp lifted its position in shares of AT&T Inc. (NYSE:T) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,511 shares of the technology company’s stock after purchasing an additional 14,969 shares during the period. Hancock Whitney Corp’s holdings in AT&T were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in AT&T during the 4th quarter worth about $11,554,000. Clearbridge Investments LLC boosted its holdings in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 48,091 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the last quarter. M&G Plc acquired a new stake in AT&T during the 1st quarter valued at approximately $9,074,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in AT&T by 30.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 835,361 shares of the technology company’s stock worth $14,017,000 after purchasing an additional 197,234 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $21.54 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $154.45 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. The stock’s fifty day simple moving average is $19.88 and its two-hundred day simple moving average is $18.34. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on T. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.31.

AT&T Company 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.