Trust Co. of Toledo NA OH Sells 15,239 Shares of AT&T Inc. (NYSE:T)

Trust Co. of Toledo NA OH lessened its holdings in AT&T Inc. (NYSE:T) by 11.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 113,910 shares of the technology company’s stock after selling 15,239 shares during the period. Trust Co. of Toledo NA OH’s holdings in AT&T were worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC increased its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on T. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. Finally, Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AT&T Price Performance

Shares of T stock opened at $22.20 on Thursday. The firm has a market capitalization of $159.14 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average of $20.35 and a 200-day moving average of $18.60.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the firm earned $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.