AT&T Inc. (NYSE:T) Shares Acquired by Global Trust Asset Management LLC

Global Trust Asset Management LLC increased its stake in AT&T Inc. (NYSE:T) by 28.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,900 shares of the technology company’s stock after purchasing an additional 855 shares during the quarter. Global Trust Asset Management LLC’s holdings in AT&T were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC lifted its position in shares of AT&T by 9.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 73,404 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 6,064 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in AT&T by 48.4% during the 1st quarter. Independence Bank of Kentucky now owns 6,243 shares of the technology company’s stock worth $110,000 after buying an additional 2,037 shares during the last quarter. Winthrop Advisory Group LLC boosted its position in shares of AT&T by 5.8% during the 1st quarter. Winthrop Advisory Group LLC now owns 19,729 shares of the technology company’s stock worth $347,000 after acquiring an additional 1,081 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in shares of AT&T by 1.7% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,918 shares of the technology company’s stock valued at $703,000 after acquiring an additional 651 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its position in shares of AT&T by 11.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 415,262 shares of the technology company’s stock worth $7,309,000 after acquiring an additional 43,300 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Barclays boosted their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Down 1.6 %

Shares of AT&T stock opened at $21.84 on Friday. The firm has a market cap of $156.60 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.58. The company’s 50-day simple moving average is $21.15 and its 200-day simple moving average is $19.08. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) 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 analysts’ expectations of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Company 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.