AT&T Inc. $T Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A decreased its holdings in shares of AT&T Inc. (NYSE:T) by 56.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,174 shares of the technology company’s stock after selling 37,672 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in AT&T were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Front Row Advisors LLC purchased a new stake in AT&T in the 2nd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the second quarter worth approximately $26,000. Kennebec Savings Bank grew its holdings in AT&T by 412.1% in 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 during the period. Solstein Capital LLC increased its position in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Finally, Curio Wealth LLC increased its position in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $24.34 on Thursday. The firm has a market cap of $172.54 billion, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 1.41 and a beta of 0.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock has a 50-day simple moving average of $25.29 and a 200-day simple moving average of $27.19.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the prior year, the business earned $0.60 EPS. AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts predict 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 will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is presently 36.04%.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Barclays cut their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.55.

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.