Spinnaker Trust Has $2.69 Million Stake in AT&T Inc. (NYSE:T)

Spinnaker Trust trimmed its holdings in AT&T Inc. (NYSE:T) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,286 shares of the technology company’s stock after selling 6,307 shares during the period. Spinnaker Trust’s holdings in AT&T were worth $2,693,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC increased its stake in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Swiss National Bank increased its stake in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in AT&T by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after acquiring an additional 325,073 shares during the period. Finally, National Pension Service increased its stake in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Scotiabank raised their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday. Royal Bank of Canada raised their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

AT&T Trading Up 1.0 %

NYSE T opened at $25.88 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $25.93. The company has a market cap of $185.66 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The business’s fifty day moving average is $23.19 and its 200 day moving average is $21.99.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts expect that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is presently 74.50%.

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.