Bank & Trust Co Has $1.20 Million Stock Position in AT&T Inc. (NYSE:T)

Bank & Trust Co decreased its position in shares of AT&T Inc. (NYSE:T) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,681 shares of the technology company’s stock after selling 1,426 shares during the quarter. AT&T comprises 1.0% of Bank & Trust Co’s holdings, making the stock its 28th largest holding. Bank & Trust Co’s holdings in AT&T were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Candriam S.C.A. boosted its holdings in AT&T by 7.6% in the 2nd quarter. Candriam S.C.A. now owns 503,692 shares of the technology company’s stock worth $9,625,000 after buying an additional 35,723 shares during the period. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Asset Dedication LLC grew its stake in shares of AT&T by 14.7% in the 2nd quarter. Asset Dedication LLC now owns 71,236 shares of the technology company’s stock worth $1,361,000 after buying an additional 9,147 shares during the last quarter. Acadian Asset Management LLC raised its stake in AT&T by 202.3% during the second quarter. Acadian Asset Management LLC now owns 822,797 shares of the technology company’s stock valued at $15,718,000 after buying an additional 550,583 shares during the last quarter. Finally, Caprock Group LLC grew its stake in shares of AT&T by 44.2% in the second quarter. Caprock Group LLC now owns 165,710 shares of the technology company’s stock worth $3,167,000 after acquiring an additional 50,760 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on T. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $26.00 in a report on Monday. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Trading Down 1.0 %

T traded down $0.23 during trading hours on Tuesday, reaching $22.37. 8,306,553 shares of the company’s stock traded hands, compared to its average volume of 23,819,016. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a market capitalization of $160.51 billion, a PE ratio of 18.19, a PEG ratio of 3.60 and a beta of 0.59. The firm has a 50-day moving average price of $22.83 and a 200 day moving average price of $21.14. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.96%. AT&T’s payout ratio is currently 90.24%.

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.