Orrstown Financial Services Inc. Cuts Holdings in AT&T Inc. (NYSE:T)

Orrstown Financial Services Inc. decreased its stake in AT&T Inc. (NYSE:T) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,140 shares of the technology company’s stock after selling 2,170 shares during the quarter. Orrstown Financial Services Inc.’s holdings in AT&T were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Chesapeake Wealth Management lifted its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC increased its holdings in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its position in AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after buying an additional 468 shares in the last quarter. Finally, Essex Savings Bank boosted its stake in AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.1 %

Shares of NYSE:T traded up $0.28 during trading hours on Wednesday, reaching $24.68. The stock had a trading volume of 4,860,367 shares, compared to its average volume of 37,396,781. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $177.05 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 3.50 and a beta of 0.59. The firm’s 50 day moving average is $22.86 and its 200-day moving average is $21.55.

AT&T (NYSE:T) last announced its quarterly 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 net margin of 7.42% and a return on equity of 13.97%. Research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.50%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday. Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.11.

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.