AT&T Inc. $T Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its holdings in AT&T Inc. (NYSE:T) by 1.5% in the second quarter, HoldingsChannel.com reports. The firm owned 144,477 shares of the technology company’s stock after selling 2,256 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in AT&T were worth $4,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Brighton Jones LLC boosted its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of AT&T by 24.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,725 shares during the period. Beacon Financial Group boosted its holdings in shares of AT&T by 2.9% in the first quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock valued at $424,000 after acquiring an additional 417 shares during the period. Fermata Advisors LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $227,000. Finally, Chesley Taft & Associates LLC boosted its holdings in shares of AT&T by 5.0% in the first quarter. Chesley Taft & Associates LLC now owns 38,503 shares of the technology company’s stock valued at $1,089,000 after acquiring an additional 1,832 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on T shares. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Saturday, September 27th. Scotiabank increased their price objective on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Price Performance

AT&T stock opened at $27.06 on Friday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50 day simple moving average of $28.60 and a 200-day simple moving average of $27.91. The stock has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T’s dividend payout ratio is presently 63.07%.

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.