CNB Bank Has $271,000 Stake in AT&T Inc. (NYSE:T)

CNB Bank lessened its position in AT&T Inc. (NYSE:T) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,919 shares of the technology company’s stock after selling 927 shares during the quarter. CNB Bank’s holdings in AT&T were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of AT&T by 110.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock valued at $117,623,000 after purchasing an additional 3,228,888 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in AT&T by 1,901.0% in the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after buying an additional 3,008,549 shares during the period. Finally, Franklin Resources Inc. boosted its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after acquiring an additional 2,326,904 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T opened at $22.22 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market cap of $159.40 billion, a PE ratio of 18.06, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock’s fifty day moving average price is $22.79 and its two-hundred day moving average price is $21.28.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business 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 company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday. Citigroup increased their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

About AT&T

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.