AT&T Inc. (NYSE:T) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. trimmed its position in shares of AT&T Inc. (NYSE:T) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,971 shares of the technology company’s stock after selling 4,627 shares during the period. Farmers & Merchants Investments Inc.’s holdings in AT&T were worth $1,548,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pineridge Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the third quarter valued at $30,000. Western Pacific Wealth Management LP acquired a new stake in AT&T in the fourth quarter valued at $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday. They issued a “buy” rating and a $22.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $21.73.

AT&T Stock Performance

NYSE T opened at $18.82 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32. The business’s 50-day moving average price is $17.63 and its 200 day moving average price is $17.20. The firm has a market cap of $134.94 billion, a P/E ratio of 10.12, a P/E/G ratio of 4.34 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.