Town & Country Bank & Trust CO dba First Bankers Trust CO decreased its holdings in shares of AT&T Inc. (NYSE:T) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,412 shares of the technology company’s stock after selling 4,573 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in AT&T were worth $2,627,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of T. Ancora Advisors LLC increased its position in AT&T by 1.3% during the 2nd quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock valued at $11,776,000 after purchasing an additional 4,370 shares during the period. Kavar Capital Partners LLC increased its position in AT&T by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 2,914 shares during the period. Investment Partners LTD. increased its position in AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 8,892 shares during the period. JGP Wealth Management LLC increased its position in AT&T by 2.7% during the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after purchasing an additional 3,373 shares during the period. Finally, Marco Investment Management LLC increased its position in AT&T by 16.2% during the 2nd quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock valued at $2,099,000 after purchasing an additional 8,734 shares during the period. 53.02% of the stock is owned by hedge funds and other institutional investors.
Shares of T traded up $0.22 during trading hours on Friday, reaching $37.64. The stock had a trading volume of 8,649,623 shares, compared to its average volume of 33,095,766. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $38.75. The firm has a 50-day simple moving average of $36.67 and a 200 day simple moving average of $33.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $273.43 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 2.36 and a beta of 0.63.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. During the same period last year, the business earned $0.91 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 3.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.42%. The ex-dividend date is Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now directly owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the stock. Raymond James reissued an “outperform” rating and set a $40.00 target price (up previously from $35.00) on shares of AT&T in a research report on Monday. Barclays increased their price target on AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. They noted that the move was a valuation call. Bank of America restated a “buy” rating on shares of AT&T in a report on Monday, September 9th. JPMorgan Chase & Co. set a $39.00 price target on AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Desjardins restated an “average” rating and set a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.43.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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