Somerset Trust Co Acquires 3,127 Shares of AT&T Inc. (NYSE:T)

Somerset Trust Co raised its holdings in AT&T Inc. (NYSE:T) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,350 shares of the technology company’s stock after buying an additional 3,127 shares during the period. Somerset Trust Co’s holdings in AT&T were worth $1,306,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Bradley Foster & Sargent Inc. CT grew its holdings in AT&T by 1.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company’s stock worth $594,000 after purchasing an additional 570 shares during the period. Blair William & Co. IL boosted its stake in shares of AT&T by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 406,190 shares of the technology company’s stock worth $7,762,000 after acquiring an additional 17,001 shares during the period. Waterloo Capital L.P. acquired a new position in shares of AT&T during the 2nd quarter worth approximately $441,000. WCG Wealth Advisors LLC increased its holdings in shares of AT&T by 14.2% during the 2nd quarter. WCG Wealth Advisors LLC now owns 59,838 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 7,438 shares during the last quarter. Finally, Cowa LLC raised its stake in AT&T by 70.9% in the 2nd quarter. Cowa LLC now owns 45,760 shares of the technology company’s stock valued at $874,000 after acquiring an additional 18,977 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Price Performance

T stock opened at $22.30 on Friday. The company has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a fifty day moving average price of $22.79 and a 200-day moving average price of $21.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s payout ratio is 90.24%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.