Somerset Trust Co Has $1.31 Million Stake in AT&T Inc. (NYSE:T)

Somerset Trust Co lifted its stake in AT&T Inc. (NYSE:T) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,350 shares of the technology company’s stock after purchasing an additional 3,127 shares during the quarter. Somerset Trust Co’s holdings in AT&T were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings 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 worth $29,000 after buying an additional 841 shares during the period. Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter worth about $30,000. Reston Wealth Management LLC bought a new stake in shares of AT&T in the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T during the third quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on T shares. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group increased 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $25.83.

AT&T Stock Up 1.2 %

Shares of NYSE T opened at $22.30 on Friday. The firm has a 50 day moving average price of $22.79 and a 200 day moving average price of $21.29. 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 cap of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The business also recently declared 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. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.