AT&T Inc. (NYSE:T) Shares Sold by Arden Trust Co

Arden Trust Co trimmed its position in AT&T Inc. (NYSE:T) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,524 shares of the technology company’s stock after selling 942 shares during the period. Arden Trust Co’s holdings in AT&T were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of T. Pineridge Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the fourth quarter worth $25,000. First Pacific Financial increased its holdings in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in AT&T by 58.2% in the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after buying an additional 811 shares in the last quarter. Finally, ESL Trust Services LLC purchased a new position in AT&T in the first quarter valued at $39,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Up 0.4 %

NYSE T traded up $0.07 on Wednesday, hitting $19.26. 30,030,497 shares of the stock were exchanged, compared to its average volume of 36,880,578. 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 Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $19.99. The company has a market cap of $138.10 billion, a PE ratio of 10.44, a PEG ratio of 3.26 and a beta of 0.58. The company has a 50-day moving average price of $18.56 and a 200-day moving average price of $17.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 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.