Bank & Trust Co Reduces Holdings in AT&T Inc. (NYSE:T)

Bank & Trust Co trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,107 shares of the technology company’s stock after selling 898 shares during the quarter. AT&T makes up about 1.0% of Bank & Trust Co’s investment portfolio, making the stock its 29th largest holding. Bank & Trust Co’s holdings in AT&T were worth $1,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Octavia Wealth Advisors LLC raised its position in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC raised 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 purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC lifted its stake in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares during the last quarter. Integral Investment Advisors Inc. boosted its holdings in AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares in the last quarter. Finally, Financial Counselors Inc. grew its position in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after buying an additional 539 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Stock Performance

Shares of NYSE:T traded down $0.32 during trading on Thursday, hitting $21.33. 13,241,469 shares of the stock were exchanged, compared to its average volume of 35,668,363. The company has a market capitalization of $152.94 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1-year low of $14.23 and a 1-year high of $22.34. The company’s fifty day simple moving average is $20.64 and its 200-day simple moving average is $18.77.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate 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 for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.20%. AT&T’s dividend payout ratio is presently 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.