Trust Co. of Toledo NA OH Reduces Stock Holdings in AT&T Inc. $T

Key Points

• Trust Co. of Toledo NA OH reduced its holdings in AT&T Inc. by 19.4%, selling 26,715 shares, resulting in ownership of 110,731 shares valued at approximately $3.2 million.
• Institutional investors currently own 57.10% of AT&T's stock, with significant acquisitions made by Kingstone Capital Partners and Ontario Teachers Pension Plan in recent quarters.
• AT&T announced a quarterly dividend of $0.2775 per share, reflecting an annualized payout of $1.11 and a dividend yield of 4.3%, set to be paid on November 3rd to stockholders of record as of October 10th.

Trust Co. of Toledo NA OH lessened its position in AT&T Inc. (NYSE:T - Free Report) by 19.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,731 shares of the technology company's stock after selling 26,715 shares during the quarter. Trust Co. of Toledo NA OH's holdings in AT&T were worth $3,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of T. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $5,266,758,000. Nuveen LLC bought a new position in shares of AT&T during the first quarter worth $1,072,128,000. GQG Partners LLC boosted its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a "sector perform" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.75.

AT&T Stock Performance

T opened at $25.85 on Friday. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $184.82 billion, a PE ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. The firm has a 50 day moving average of $28.45 and a two-hundred day moving average of $27.88.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T's payout ratio is 63.07%.

About AT&T

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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