Whittier Trust Co. Increases Holdings in AT&T Inc. $T

Whittier Trust Co. lifted its position in shares of AT&T Inc. (NYSE:T) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,789 shares of the technology company’s stock after acquiring an additional 768 shares during the quarter. Whittier Trust Co.’s holdings in AT&T were worth $1,730,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter valued at approximately $26,000. Kennebec Savings Bank lifted its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Hager Investment Management Services LLC lifted its stake 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 valued at $28,000 after buying an additional 641 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in AT&T in the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein upped their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Barclays reiterated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Trading Down 2.0%

T stock opened at $25.52 on Thursday. The company has a market cap of $182.49 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.11 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $28.12 and a 200-day simple moving average of $27.77. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

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.