Citizens & Northern Corp Sells 1,647 Shares of AT&T Inc. (NYSE:T)

Citizens & Northern Corp lessened its stake in shares of AT&T Inc. (NYSE:T) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,777 shares of the technology company’s stock after selling 1,647 shares during the quarter. Citizens & Northern Corp’s holdings in AT&T were worth $986,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in T. WealthPlan Investment Management LLC grew its holdings in AT&T by 31,572.3% in the third quarter. WealthPlan Investment Management LLC now owns 35,473 shares of the technology company’s stock worth $533,000 after purchasing an additional 35,361 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in AT&T during the 3rd quarter valued at approximately $250,000. Larson Financial Group LLC raised its stake in AT&T by 18.7% during the third quarter. Larson Financial Group LLC now owns 25,909 shares of the technology company’s stock valued at $389,000 after buying an additional 4,081 shares during the last quarter. Berger Financial Group Inc boosted its holdings in AT&T by 10.2% in the third quarter. Berger Financial Group Inc now owns 17,329 shares of the technology company’s stock worth $260,000 after acquiring an additional 1,598 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of AT&T by 13.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,420,641 shares of the technology company’s stock worth $36,358,000 after acquiring an additional 290,080 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Scotiabank upped their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Tigress Financial boosted 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

T stock traded down $0.07 during trading on Thursday, hitting $17.43. The stock had a trading volume of 22,023,749 shares, compared to its average volume of 37,269,633. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The company’s 50-day moving average price is $17.03 and its two-hundred day moving average price is $16.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a market capitalization of $124.98 billion, a P/E ratio of 9.34, a PEG ratio of 3.40 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.37%. AT&T’s payout ratio is currently 59.68%.

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.