CNB Bank Sells 927 Shares of AT&T Inc. (NYSE:T)

CNB Bank reduced its position in AT&T Inc. (NYSE:T) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,919 shares of the technology company’s stock after selling 927 shares during the quarter. CNB Bank’s holdings in AT&T were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of T. Bradley Foster & Sargent Inc. CT increased its stake in shares of AT&T by 1.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company’s stock valued at $594,000 after buying an additional 570 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in AT&T by 6.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 130,635 shares of the technology company’s stock worth $2,496,000 after purchasing an additional 7,981 shares during the period. Blair William & Co. IL raised its holdings in AT&T by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 406,190 shares of the technology company’s stock worth $7,762,000 after purchasing an additional 17,001 shares during the last quarter. Waterloo Capital L.P. acquired a new position in AT&T during the 2nd quarter valued at about $441,000. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

Shares of T stock opened at $22.22 on Friday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a 50 day moving average price of $22.79 and a two-hundred day moving average price of $21.28. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $159.40 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. As a group, analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.00%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded shares of 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 report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.83.

About AT&T

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.