Capital City Trust Co. FL trimmed its stake in shares of AT&T Inc. (NYSE:T) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,578 shares of the technology company’s stock after selling 535 shares during the period. Capital City Trust Co. FL’s holdings in AT&T were worth $1,858,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in T. JJJ Advisors Inc. acquired a new position in AT&T in the third quarter valued at approximately $27,000. Bourgeon Capital Management LLC acquired a new position in AT&T in the third quarter valued at approximately $45,000. Fulcrum Equity Management acquired a new position in AT&T in the third quarter valued at approximately $51,000. Corbenic Partners LLC acquired a new position in AT&T in the fourth quarter valued at approximately $54,000. Finally, Quantum Capital Management acquired a new position in AT&T in the third quarter valued at approximately $57,000. Institutional investors own 53.60% of the company’s stock.
Shares of T stock opened at $37.87 on Thursday. The firm has a fifty day moving average of $38.53 and a 200-day moving average of $36.76. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 12-month low of $28.92 and a 12-month high of $39.70. The company has a market capitalization of $276.75 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 2.40 and a beta of 0.62.
AT&T (NYSE:T) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 3.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.52 per share. This is an increase from AT&T’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.49%. AT&T’s dividend payout ratio is currently 59.09%.
Several brokerages have commented on T. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research note on Thursday, November 14th. Moffett Nathanson downgraded shares of AT&T from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group upped their target price on shares of AT&T from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $39.22.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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