AT&T Inc. (NYSE:T) Shares Sold by Busey Bank

Busey Bank lowered its stake in AT&T Inc. (NYSE:T) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,700 shares of the technology company’s stock after selling 5,797 shares during the period. Busey Bank’s holdings in AT&T were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% in 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 buying an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in AT&T during the 4th quarter worth approximately $34,000. Safe Harbor Fiduciary LLC acquired a new stake in AT&T in the third quarter valued at $35,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T during the third quarter worth about $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $24.23 on Thursday. The company has a 50-day moving average price of $22.86 and a two-hundred day moving average price of $21.55. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. The stock has a market cap of $173.89 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share 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%. Analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analyst Weigh In

Several analysts have recently commented on T shares. Citigroup increased their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.11.

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.