Equitable Trust Co. Sells 5,300 Shares of AT&T Inc. (NYSE:T)

Equitable Trust Co. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 20.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,403 shares of the technology company’s stock after selling 5,300 shares during the period. Equitable Trust Co.’s holdings in AT&T were worth $465,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. YANKCOM Partnership acquired a new position in shares of AT&T during the 4th quarter valued at $30,000. Endeavor Private Wealth Inc. bought a new position in AT&T during the fourth quarter worth $34,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T in the third quarter worth $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on T shares. Oppenheimer initiated coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. UBS Group upped their price target on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup upped their target price on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

AT&T Price Performance

AT&T stock opened at $25.16 on Wednesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $25.18. The company’s 50 day moving average price is $23.09 and its two-hundred day moving average price is $21.90. The stock has a market cap of $180.50 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.79 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts predict that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

AT&T 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.