Private Trust Co. NA Increases Holdings in AT&T Inc. (NYSE:T)

Private Trust Co. NA lifted its position in AT&T Inc. (NYSE:T) by 5.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,578 shares of the technology company’s stock after purchasing an additional 3,297 shares during the period. Private Trust Co. NA’s holdings in AT&T were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of T. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T during the 2nd quarter valued at about $23,888,000. Swiss National Bank lifted its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Caprock Group LLC boosted its holdings in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares during the period. Talbot Financial LLC bought a new position in AT&T in the 3rd quarter worth $7,438,000. Finally, Mackenzie Financial Corp increased its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $23.10 on Tuesday. The stock has a 50 day moving average price of $22.04 and a 200 day moving average price of $20.00. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.32. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $165.75 billion, a P/E ratio of 18.78, a P/E/G ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on T shares. Barclays upped their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Oppenheimer upped their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.