Intrust Bank NA Acquires 16,959 Shares of AT&T Inc. (NYSE:T)

Key Points

• Intrust Bank NA increased its stake in AT&T by 11.0%, now owning 170,622 shares valued at approximately $4.8 million.
• Several significant investors, including UBS AM and Bridgewater Associates, have increased their holdings in AT&T, with institutional investors now owning 57.10% of the stock.
• AT&T reported a quarterly earnings per share of $0.54, surpassing estimates, along with a recent dividend announcement that reflects a 4.0% yield.

Intrust Bank NA boosted its holdings in AT&T Inc. (NYSE:T - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,622 shares of the technology company's stock after buying an additional 16,959 shares during the quarter. Intrust Bank NA's holdings in AT&T were worth $4,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in AT&T in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in AT&T during the 4th quarter worth approximately $27,000. Hager Investment Management Services LLC boosted its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. Finally, Core Alternative Capital grew its holdings in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 2.0%

Shares of NYSE:T traded up $0.56 during trading on Thursday, reaching $28.05. 35,250,757 shares of the stock were exchanged, compared to its average volume of 34,202,664. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The stock has a fifty day moving average of $27.83 and a two-hundred day moving average of $26.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $200.59 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 3.41 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is presently 63.07%.

Analyst Ratings Changes

Several research firms have recently issued reports on T. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.