Stock Yards Bank & Trust Co. Sells 5,259 Shares of AT&T Inc. (NYSE:T)

Stock Yards Bank & Trust Co. decreased its position in shares of AT&T Inc. (NYSE:T) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,733 shares of the technology company’s stock after selling 5,259 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in AT&T were worth $4,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Next Level Private LLC lifted its stake in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after purchasing an additional 384 shares in the last quarter. Kozak & Associates Inc. grew its holdings in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after acquiring an additional 398 shares during the period. Firethorn Wealth Partners LLC grew its holdings in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after acquiring an additional 399 shares during the period. Finally, Charter Oak Capital Management LLC grew its holdings in AT&T by 2.7% during the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company’s stock worth $431,000 after acquiring an additional 408 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $28.13 on Friday. The stock’s fifty day simple moving average is $27.41 and its 200 day simple moving average is $25.63. 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 firm has a market cap of $202.43 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a one year low of $17.49 and a one year high of $29.03.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on T shares. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Evercore ISI lifted their price target on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. TD Securities raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $28.71.

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.