Equitable Trust Co. Has $270,000 Position in AT&T Inc. (NYSE:T)

Equitable Trust Co. cut its holdings in shares of AT&T Inc. (NYSE:T) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,151 shares of the technology company’s stock after selling 1,877 shares during the quarter. Equitable Trust Co.’s holdings in AT&T were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in T. Game Plan Financial Advisors LLC grew its holdings in AT&T by 28,909.1% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 15,955 shares of the technology company’s stock valued at $305,000 after buying an additional 15,900 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in AT&T in the 2nd quarter valued at $97,000. Consolidated Portfolio Review Corp grew its holdings in AT&T by 16.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 35,908 shares of the technology company’s stock valued at $686,000 after buying an additional 5,001 shares in the last quarter. Bellwether Advisors LLC acquired a new position in AT&T in the 2nd quarter valued at $510,000. Finally, Ritholtz Wealth Management grew its holdings in AT&T by 4.6% in the 2nd quarter. Ritholtz Wealth Management now owns 64,292 shares of the technology company’s stock valued at $1,229,000 after buying an additional 2,834 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Finally, Oppenheimer upped their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Price Performance

AT&T stock opened at $19.90 on Tuesday. 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 company has a market capitalization of $142.69 billion, a PE ratio of 10.70, a P/E/G ratio of 3.36 and a beta of 0.58. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $19.99. The stock has a 50-day moving average price of $19.16 and a two-hundred day moving average price of $17.91.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.58%. AT&T’s dividend payout ratio is currently 59.68%.

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.