Bank & Trust Co Sells 898 Shares of AT&T Inc. (NYSE:T)

Bank & Trust Co trimmed its holdings in AT&T Inc. (NYSE:T) by 1.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,107 shares of the technology company’s stock after selling 898 shares during the quarter. AT&T comprises about 1.0% of Bank & Trust Co’s holdings, making the stock its 29th biggest holding. Bank & Trust Co’s holdings in AT&T were worth $1,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of AT&T during the fourth quarter valued at $25,000. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the second quarter worth about $30,000. Finally, Marquette Asset Management LLC bought a new stake in AT&T during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 1.5 %

T traded down $0.32 during trading on Thursday, hitting $21.33. The company had a trading volume of 13,241,469 shares, compared to its average volume of 35,668,363. The company has a market capitalization of $152.94 billion, a PE ratio of 11.47, a PEG ratio of 3.74 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34. The firm’s 50-day moving average price is $20.64 and its 200 day moving average price is $18.77.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.20%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several brokerages have recently commented on T. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

About AT&T

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.