Stock Yards Bank & Trust Co. Has $3.46 Million Stake in AT&T Inc. (NYSE:T)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,992 shares of the technology company’s stock after selling 14,878 shares during the period. Stock Yards Bank & Trust Co.’s holdings in AT&T were worth $3,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in shares of AT&T in the 4th quarter valued at $34,000. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of several research reports. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Sanford C. Bernstein lifted their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price objective on AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Price Performance

NYSE:T opened at $23.74 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The stock’s 50-day simple moving average is $22.92 and its 200 day simple moving average is $21.64. The company has a market cap of $170.34 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.71 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, sell-side analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

AT&T Company 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.