Heritage Trust Co boosted its position in AT&T Inc. (NYSE:T - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,121 shares of the technology company's stock after acquiring an additional 36,894 shares during the quarter. AT&T accounts for about 0.9% of Heritage Trust Co's holdings, making the stock its 26th biggest holding. Heritage Trust Co's holdings in AT&T were worth $7,526,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Argent Trust Co raised its stake in AT&T by 0.8% in the first quarter. Argent Trust Co now owns 202,314 shares of the technology company's stock valued at $5,721,000 after buying an additional 1,565 shares in the last quarter. Novus Advisors LLC purchased a new stake in AT&T during the first quarter worth approximately $268,000. Palisades Hudson Asset Management L.P. purchased a new stake in AT&T during the first quarter worth approximately $209,000. Liberty Wealth Management LLC raised its holdings in AT&T by 92.6% during the first quarter. Liberty Wealth Management LLC now owns 38,614 shares of the technology company's stock worth $1,092,000 after purchasing an additional 18,563 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its position in shares of AT&T by 24.8% during the 1st quarter. J. Safra Sarasin Holding AG now owns 34,972 shares of the technology company's stock worth $989,000 after buying an additional 6,945 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. TD Securities upped their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. Barclays lifted their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Morgan Stanley increased their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $29.66.
Read Our Latest Stock Report on AT&T
AT&T Price Performance
T traded up $0.35 during trading on Friday, reaching $27.76. 38,807,241 shares of the stock were exchanged, compared to its average volume of 33,568,712. 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 company has a market capitalization of $198.49 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 3.44 and a beta of 0.42. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The business's 50 day moving average price is $27.80 and its two-hundred day moving average price is $26.88.
AT&T (NYSE:T - Get Free Report) last released 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the firm earned $0.51 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is presently 63.07%.
AT&T Profile
(
Free Report)
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.
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