Fulton Bank N.A. Cuts Stock Position in AT&T Inc. (NYSE:T)

Fulton Bank N.A. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 10.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 90,433 shares of the technology company’s stock after selling 10,615 shares during the period. Fulton Bank N.A.’s holdings in AT&T were worth $2,059,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its stake in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Thornburg Investment Management Inc. lifted its stake in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the period. Jupiter Asset Management Ltd. bought a new position in AT&T during the 2nd quarter worth about $78,570,000. Finally, Geode Capital Management LLC increased its position in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Citigroup increased their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Performance

AT&T stock opened at $22.20 on Thursday. The firm has a market cap of $159.29 billion, a PE ratio of 18.05, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock’s 50 day simple moving average is $22.83 and its two-hundred day simple moving average is $21.18. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

AT&T 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.