Community Trust & Investment Co. Purchases Shares of 10,936 AT&T Inc. (NYSE:T)

Community Trust & Investment Co. purchased a new position in shares of AT&T Inc. (NYSE:T) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,936 shares of the technology company’s stock, valued at approximately $309,000.

Other large investors also recently modified their holdings of the company. Stockman Wealth Management Inc. purchased a new stake in AT&T during the 1st quarter worth $228,000. FNY Investment Advisers LLC raised its position in AT&T by 46.9% in the first quarter. FNY Investment Advisers LLC now owns 19,590 shares of the technology company’s stock valued at $554,000 after purchasing an additional 6,250 shares during the period. QRG Capital Management Inc. lifted its stake in shares of AT&T by 0.8% during the first quarter. QRG Capital Management Inc. now owns 1,756,247 shares of the technology company’s stock worth $49,667,000 after purchasing an additional 14,167 shares in the last quarter. Sagespring Wealth Partners LLC lifted its stake in shares of AT&T by 20.8% during the first quarter. Sagespring Wealth Partners LLC now owns 133,985 shares of the technology company’s stock worth $3,789,000 after purchasing an additional 23,066 shares in the last quarter. Finally, Adero Partners LLC boosted its position in shares of AT&T by 8.8% in the first quarter. Adero Partners LLC now owns 11,030 shares of the technology company’s stock worth $312,000 after buying an additional 895 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on T. Morgan Stanley reiterated an “overweight” rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Royal Bank of Canada lifted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Price Performance

Shares of NYSE:T opened at $28.13 on Monday. The company has a market cap of $202.43 billion, a PE ratio of 18.88, a P/E/G ratio of 3.00 and a beta of 0.41. AT&T Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $29.03. The firm has a 50-day simple moving average of $27.41 and a 200 day simple moving average of $25.66. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s dividend payout ratio is presently 68.10%.

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.