Exchange Bank Sells 443 Shares of AT&T Inc. (NYSE:T)

Exchange Bank decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,976 shares of the technology company’s stock after selling 443 shares during the period. Exchange Bank’s holdings in AT&T were worth $310,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in AT&T during the fourth quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new stake in AT&T during the fourth quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in AT&T during the fourth quarter valued at $28,000. Finally, Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after purchasing an additional 430 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.4%

Shares of NYSE:T opened at $28.32 on Thursday. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The company has a market cap of $203.74 billion, a PE ratio of 19.00, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock’s 50-day moving average is $27.35 and its 200 day moving average is $25.56.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Evercore ISI raised their price target on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. Wells Fargo & Company raised their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

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.