Trust Point Inc. Sells 1,718 Shares of AT&T Inc. (NYSE:T)

Trust Point Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,912 shares of the technology company’s stock after selling 1,718 shares during the quarter. Trust Point Inc.’s holdings in AT&T were worth $1,250,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Chesapeake Wealth Management raised its position in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares during the period. Luts & Greenleigh Group Inc. raised its position in shares of AT&T by 2.8% in the 4th quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after acquiring an additional 460 shares during the period. Socha Financial Group LLC raised its position in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the period. Garden State Investment Advisory Services LLC raised its position in shares of AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after acquiring an additional 468 shares during the period. Finally, Essex Savings Bank raised its position in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on T. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a 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 report on Thursday, December 5th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DZ Bank upgraded shares of 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. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $28.00 in a report on Monday, December 16th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Stock Up 2.2 %

T stock opened at $24.26 on Tuesday. The company has a market cap of $174.04 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The business has a 50-day simple moving average of $22.92 and a 200 day simple moving average of $21.66. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.98. 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 posted 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%. Sell-side analysts anticipate that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is 74.50%.

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.