HTLF Bank Decreases Holdings in AT&T Inc. (NYSE:T)

HTLF Bank cut its holdings in shares of AT&T Inc. (NYSE:T) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,427 shares of the technology company’s stock after selling 875 shares during the quarter. HTLF Bank’s holdings in AT&T were worth $757,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in T. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the second quarter worth $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on T. Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Up 1.2 %

AT&T stock traded up $0.26 during mid-day trading on Tuesday, reaching $21.53. The stock had a trading volume of 35,936,913 shares, compared to its average volume of 35,689,582. The company has a market capitalization of $154.34 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 3.62 and a beta of 0.60. The company has a 50-day moving average price of $20.76 and a two-hundred day moving average price of $18.86. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

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

AT&T Dividend Announcement

The firm also recently declared 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. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, October 10th. 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.