American National Bank & Trust Trims Holdings in AT&T Inc. (NYSE:T)

American National Bank & Trust lowered its stake in shares of AT&T Inc. (NYSE:T) by 23.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 30,450 shares of the technology company’s stock after selling 9,346 shares during the period. American National Bank & Trust’s holdings in AT&T were worth $670,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC boosted its position in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of AT&T by 120.8% during the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after acquiring an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.3 %

T stock opened at $22.20 on Thursday. The company’s 50-day moving average price is $20.35 and its 200 day moving average price is $18.60. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market cap of $159.14 billion, a P/E ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. On average, research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore ISI upped their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Oppenheimer increased their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.38.

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.