Stock Yards Bank & Trust Co. trimmed its position in AT&T Inc. (NYSE:T – Free Report) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 211,880 shares of the technology company’s stock after selling 5,481 shares during the period. Stock Yards Bank & Trust Co.’s holdings in AT&T were worth $3,555,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Diversified LLC raised its position in shares of AT&T by 14.6% in the 4th quarter. Diversified LLC now owns 12,877 shares of the technology company’s stock valued at $216,000 after acquiring an additional 1,643 shares during the period. Duality Advisers LP acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $616,000. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $258,000. Capital Investment Advisory Services LLC raised its position in shares of AT&T by 4.6% in the 4th quarter. Capital Investment Advisory Services LLC now owns 89,513 shares of the technology company’s stock valued at $1,502,000 after acquiring an additional 3,943 shares during the period. Finally, OLD National Bancorp IN raised its holdings in AT&T by 2.6% during the 4th quarter. OLD National Bancorp IN now owns 1,615,377 shares of the technology company’s stock worth $27,106,000 after buying an additional 40,620 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.
AT&T Price Performance
NYSE:T opened at $16.31 on Tuesday. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $16.53. The stock has a market capitalization of $116.63 billion, a PE ratio of 8.32, a P/E/G ratio of 2.49 and a beta of 0.57.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.81%. AT&T’s dividend payout ratio is presently 56.63%.
Analyst Upgrades and Downgrades
Several brokerages have commented on T. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Tigress Financial raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.
Check Out Our Latest Research Report on T
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.
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