Sageworth Trust Co Buys Shares of 9,215 AT&T Inc. (NYSE:T)

Sageworth Trust Co purchased a new position in shares of AT&T Inc. (NYSE:T) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,215 shares of the technology company’s stock, valued at approximately $203,000.

A number of other institutional investors have also modified their holdings of T. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter worth about $30,000. Marquette Asset Management LLC acquired a new stake in AT&T in the 3rd quarter worth about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

AT&T stock traded down $0.37 during mid-day trading on Friday, reaching $21.83. The company’s stock had a trading volume of 26,050,390 shares, compared to its average volume of 35,713,988. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.58. The business has a 50 day moving average price of $21.20 and a 200-day moving average price of $19.12. The firm has a market cap of $156.52 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the firm earned $0.64 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio is presently 59.68%.

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.