AT&T Inc. (NYSE:T) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its stake in shares of AT&T Inc. (NYSE:T) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,314 shares of the technology company’s stock after selling 5,441 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in AT&T were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pineridge Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. First Pacific Financial increased its holdings in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of AT&T by 58.2% in the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after purchasing an additional 811 shares during the period. Finally, ESL Trust Services LLC purchased a new stake in AT&T during the first quarter worth about $39,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on T. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.33.

AT&T Trading Up 0.9 %

AT&T stock traded up $0.18 during midday trading on Friday, reaching $19.58. The stock had a trading volume of 12,664,328 shares, compared to its average volume of 36,650,621. The stock’s 50-day simple moving average is $18.64 and its 200 day simple moving average is $17.63. AT&T Inc. has a twelve month low of $13.92 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $140.39 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.67%. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.