City State Bank Reduces Holdings in AT&T Inc. $T

City State Bank lowered its position in shares of AT&T Inc. (NYSE:T) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,895 shares of the technology company’s stock after selling 450 shares during the quarter. City State Bank’s holdings in AT&T were worth $547,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the second quarter valued at approximately $26,000. Kennebec Savings Bank lifted its holdings in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in AT&T during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Barclays reduced their price objective on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Finally, HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Trading Up 2.2%

Shares of T opened at $25.17 on Friday. The company’s fifty day moving average is $27.97 and its 200 day moving average is $27.75. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The stock has a market capitalization of $179.95 billion, a PE ratio of 8.17, a P/E/G ratio of 1.99 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

AT&T Company 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.