Trust Point Inc. Has $1.25 Million Stake in AT&T Inc. (NYSE:T)

Trust Point Inc. trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 54,912 shares of the technology company’s stock after selling 1,718 shares during the period. Trust Point Inc.’s holdings in AT&T were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AT&T in the 2nd quarter valued at $44,000. AMF Tjanstepension AB raised its position in AT&T by 305.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock valued at $33,918,000 after buying an additional 1,161,152 shares during the last quarter. Czech National Bank raised its position in AT&T by 6.9% in the 3rd quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock valued at $32,134,000 after buying an additional 94,312 shares during the last quarter. GAMMA Investing LLC raised its position in AT&T by 39.2% in the 3rd quarter. GAMMA Investing LLC now owns 131,975 shares of the technology company’s stock valued at $2,903,000 after buying an additional 37,162 shares during the last quarter. Finally, WealthBridge Capital Management LLC purchased a new stake in AT&T in the 3rd quarter valued at $218,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 2.2 %

Shares of NYSE T opened at $24.26 on Tuesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The business has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $21.66. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $174.04 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Research analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.58%. AT&T’s dividend payout ratio is currently 74.50%.

Analysts Set New Price Targets

T has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein upped their price objective on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $26.11.

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.