Spinnaker Trust Has $2.69 Million Position in AT&T Inc. (NYSE:T)

Spinnaker Trust cut its stake in shares of AT&T Inc. (NYSE:T) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,286 shares of the technology company’s stock after selling 6,307 shares during the quarter. Spinnaker Trust’s holdings in AT&T were worth $2,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of AT&T in the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. YANKCOM Partnership bought a new stake in AT&T in the 4th quarter valued at about $30,000. Endeavor Private Wealth Inc. bought a new stake in AT&T in the 4th quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new stake in AT&T in the 3rd quarter valued at about $35,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada boosted their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Trading Up 1.0 %

AT&T stock opened at $25.88 on Friday. The stock has a market cap of $185.66 billion, a P/E ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $25.93. The firm’s fifty day moving average price is $23.19 and its 200-day moving average price is $21.99. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last released its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts forecast that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.29%. AT&T’s payout ratio is currently 74.50%.

AT&T Company Profile

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.