Fulton Bank N.A. Decreases Stake in AT&T Inc. $T

Key Points

• Fulton Bank N.A. sold 29,098 shares of AT&T Inc., reducing its stake by 33.0%, while maintaining 59,072 shares valued at approximately $1.71 million.
• Several institutional investors increased their holdings in AT&T during the first quarter, with Vanguard Group Inc. holding the largest position at over $18 billion.
• AT&T reported quarterly earnings of $0.54 per share, exceeding analysts’ expectations, and declared a quarterly dividend of $0.2775 with a yield of 3.8%.

Fulton Bank N.A. cut its stake in AT&T Inc. (NYSE:T - Free Report) by 33.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,072 shares of the technology company's stock after selling 29,098 shares during the period. Fulton Bank N.A.'s holdings in AT&T were worth $1,710,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in T. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $26,000. Putney Financial Group LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC boosted its holdings in shares of 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 in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T traded down $0.16 during trading hours on Friday, reaching $29.04. 62,059,787 shares of the company's stock traded hands, compared to its average volume of 28,068,662. The stock has a market cap of $207.65 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 3.61 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm's 50 day simple moving average is $28.45 and its 200-day simple moving average is $27.81.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on T. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average price target of $30.74.

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.