American National Bank & Trust Co. VA Takes Position in AT&T Inc. (NYSE:T)

American National Bank & Trust Co. VA bought a new stake in AT&T Inc. (NYSE:T) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 38,902 shares of the technology company’s stock, valued at approximately $684,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the 4th quarter worth approximately $25,000. Ramirez Asset Management Inc. acquired a new position in AT&T during the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of AT&T in the 4th quarter worth approximately $39,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.7 %

NYSE:T traded down $0.14 during mid-day trading on Thursday, hitting $18.68. The company had a trading volume of 19,462,997 shares, compared to its average volume of 33,098,884. The business has a fifty day simple moving average of $17.71 and a 200-day simple moving average of $17.22. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.32. The firm has a market capitalization of $133.94 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 4.27 and a beta of 0.58.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company posted $0.60 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.94%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on T shares. Oppenheimer restated an “outperform” rating and issued a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday. They set a “buy” rating and a $22.00 price target on the stock. Finally, Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, April 29th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.73.

AT&T 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.