Spinnaker Trust Decreases Stock Position in AT&T Inc. (NYSE:T)

Spinnaker Trust lessened its holdings in AT&T Inc. (NYSE:T) by 0.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,300 shares of the technology company’s stock after selling 1,136 shares during the quarter. Spinnaker Trust’s holdings in AT&T were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of T. Exchange Traded Concepts LLC grew its position in AT&T by 33.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after acquiring an additional 10,758 shares during the last quarter. Spirit of America Management Corp NY grew its position in shares of AT&T by 46.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 9,500 shares of the technology company’s stock worth $143,000 after buying an additional 3,000 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of AT&T by 5.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,128,247 shares of the technology company’s stock worth $31,966,000 after buying an additional 115,591 shares in the last quarter. Connecticut Wealth Management LLC grew its position in shares of AT&T by 53.1% during the 3rd quarter. Connecticut Wealth Management LLC now owns 20,981 shares of the technology company’s stock worth $315,000 after buying an additional 7,278 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of AT&T by 38.6% during the 3rd quarter. Ballentine Partners LLC now owns 52,772 shares of the technology company’s stock worth $793,000 after buying an additional 14,710 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on T shares. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Barclays upped their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Performance

Shares of NYSE:T traded up $0.17 during trading on Friday, hitting $16.75. The stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The stock has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $16.96 and a two-hundred day simple moving average of $16.56.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.