Heartland Bank & Trust Co Sells 2,113 Shares of AT&T Inc. (NYSE:T)

Heartland Bank & Trust Co lessened its stake in shares of AT&T Inc. (NYSE:T) by 8.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,093 shares of the technology company’s stock after selling 2,113 shares during the period. Heartland Bank & Trust Co’s holdings in AT&T were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth about $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth approximately $25,000. Strategic Financial Concepts LLC raised its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. Finally, American Capital Advisory LLC increased its holdings in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI raised 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. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Barclays increased their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.38.

AT&T Price Performance

AT&T stock opened at $21.99 on Tuesday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a fifty day moving average of $20.21 and a 200-day moving average of $18.54. The stock has a market capitalization of $157.64 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, sell-side analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

AT&T 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.