Fulton Bank N.A. Decreases Stake in AT&T Inc. (NYSE:T)

Fulton Bank N.A. reduced its position in AT&T Inc. (NYSE:T) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,048 shares of the technology company’s stock after selling 26,776 shares during the period. Fulton Bank N.A.’s holdings in AT&T were worth $2,223,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Octavia Wealth Advisors LLC raised its stake in shares of AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 2.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after acquiring an additional 521 shares during the last quarter. WealthCare Investment Partners LLC grew its holdings in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Integral Investment Advisors Inc. grew its holdings in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after acquiring an additional 538 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of AT&T by 0.6% in the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after acquiring an additional 539 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI lifted their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Price Performance

Shares of NYSE:T opened at $21.78 on Tuesday. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34. The business has a 50-day moving average of $20.47 and a two-hundred day moving average of $18.68. The stock has a market capitalization of $156.17 billion, a P/E ratio of 11.71, a P/E/G ratio of 3.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.10%. AT&T’s dividend payout ratio is 59.68%.

AT&T Company Profile

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.