Trustmark National Bank Trust Department Increases Stock Holdings in AT&T Inc. (NYSE:T)

Trustmark National Bank Trust Department boosted its holdings in AT&T Inc. (NYSE:T) by 158.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,507 shares of the technology company’s stock after acquiring an additional 46,891 shares during the quarter. Trustmark National Bank Trust Department’s holdings in AT&T were worth $1,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% during the third 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 last quarter. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter valued at about $35,000. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T during the second quarter valued at about $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Up 0.4 %

Shares of NYSE:T opened at $22.83 on Thursday. The firm has a market capitalization of $163.81 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.41 and a beta of 0.59. 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 50 day moving average price of $21.96 and a 200-day moving average price of $19.86. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.20.

AT&T (NYSE:T) last posted its quarterly earnings results 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 company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.86%. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.