Dorsey & Whitney Trust CO LLC Has $775,000 Stake in AT&T Inc. (NYSE:T)

Dorsey & Whitney Trust CO LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 27.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,033 shares of the technology company’s stock after acquiring an additional 9,602 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in AT&T were worth $775,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its holdings in shares of AT&T by 4.0% during the first quarter. Orion Portfolio Solutions LLC now owns 328,199 shares of the technology company’s stock worth $5,776,000 after purchasing an additional 12,591 shares during the last quarter. Wilkins Investment Counsel Inc. acquired a new position in AT&T during the 1st quarter worth about $294,000. Picton Mahoney Asset Management increased its position in AT&T by 6.7% in the 1st quarter. Picton Mahoney Asset Management now owns 13,020 shares of the technology company’s stock valued at $230,000 after acquiring an additional 820 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of AT&T by 3.8% in the first quarter. HBK Sorce Advisory LLC now owns 234,431 shares of the technology company’s stock worth $4,126,000 after acquiring an additional 8,596 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of AT&T by 2.6% during the first quarter. Kingsview Wealth Management LLC now owns 224,144 shares of the technology company’s stock worth $3,945,000 after purchasing an additional 5,702 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on T shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of AT&T in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $21.85.

AT&T Stock Down 0.2 %

T traded down $0.03 during midday trading on Friday, hitting $19.12. The company had a trading volume of 29,099,390 shares, compared to its average volume of 36,253,301. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.33. The stock’s 50 day moving average price is $18.17 and its 200 day moving average price is $17.41. The company has a market capitalization of $137.09 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 3.62 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.81%. AT&T’s dividend payout ratio (DPR) is presently 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.