Fulton Bank N.A. Sells 10,615 Shares of AT&T Inc. (NYSE:T)

Fulton Bank N.A. cut its stake in AT&T Inc. (NYSE:T) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,433 shares of the technology company’s stock after selling 10,615 shares during the quarter. Fulton Bank N.A.’s holdings in AT&T were worth $2,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of T. Chesapeake Wealth Management grew its stake in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the last quarter. Socha Financial Group LLC boosted its stake in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC grew its position in AT&T by 1.4% during 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 purchasing an additional 468 shares during the last quarter. Essex Savings Bank increased its stake in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management raised its holdings in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on T. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $22.00 to $26.00 in a research report on Monday. Oppenheimer initiated coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Price Performance

Shares of AT&T stock opened at $22.20 on Thursday. The company has a market capitalization of $159.29 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 3.60 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $22.83 and its 200-day simple moving average is $21.18. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm earned $0.64 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. AT&T’s dividend payout ratio is currently 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.