Glenview Trust co Sells 1,526 Shares of AT&T Inc. $T

Glenview Trust co reduced its position in shares of AT&T Inc. (NYSE:T) by 1.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,321 shares of the technology company’s stock after selling 1,526 shares during the quarter. Glenview Trust co’s holdings in AT&T were worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter worth $25,000. Stone House Investment Management LLC bought a new position in AT&T in the 1st quarter worth $25,000. Putney Financial Group LLC bought a new position in AT&T in the 4th quarter worth $27,000. Finally, Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on T. UBS Group set a $32.00 price objective on shares of AT&T in a report on Thursday, September 4th. Raymond James Financial restated a “strong-buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Sanford C. Bernstein upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.60.

AT&T Stock Down 0.7%

Shares of AT&T stock opened at $29.21 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a 50-day moving average of $28.26 and a 200 day moving average of $27.69. The firm has a market cap of $208.88 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 3.66 and a beta of 0.44. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the firm posted $0.51 EPS. AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio is 63.07%.

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.