7,093 Shares in AT&T Inc. $T Purchased by Washington Trust Bank

Washington Trust Bank acquired a new stake in shares of AT&T Inc. (NYSE:T) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,093 shares of the technology company’s stock, valued at approximately $205,000.

Several other large investors also recently modified their holdings of T. Brighton Jones LLC increased its position in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in AT&T by 5.8% during the first quarter. Rehmann Capital Advisory Group now owns 51,549 shares of the technology company’s stock worth $1,458,000 after buying an additional 2,823 shares during the last quarter. Leavell Investment Management Inc. increased its holdings in shares of AT&T by 11.6% during the first quarter. Leavell Investment Management Inc. now owns 56,467 shares of the technology company’s stock worth $1,597,000 after buying an additional 5,887 shares in the last quarter. Forza Wealth Management LLC raised its stake in shares of AT&T by 1.7% in the first quarter. Forza Wealth Management LLC now owns 32,744 shares of the technology company’s stock valued at $926,000 after acquiring an additional 550 shares during the last quarter. Finally, CFO4Life Group LLC raised its stake in shares of AT&T by 11.9% in the first quarter. CFO4Life Group LLC now owns 34,638 shares of the technology company’s stock valued at $980,000 after acquiring an additional 3,691 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. increased their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. TD Cowen raised their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Performance

Shares of AT&T stock opened at $24.74 on Friday. The firm has a fifty day moving average of $27.23 and a two-hundred day moving average of $27.63. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market capitalization of $175.36 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio is 36.04%.

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.