Adirondack Trust Co. Has $569,000 Stake in AT&T Inc. (NYSE:T)

Adirondack Trust Co. cut its holdings in shares of AT&T Inc. (NYSE:T) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,991 shares of the technology company’s stock after selling 4,006 shares during the quarter. Adirondack Trust Co.’s holdings in AT&T were worth $569,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in AT&T during the 4th quarter worth $14,700,000. Swiss National Bank boosted its holdings in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Franklin Resources Inc. grew its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares in the last quarter. Caprock Group LLC increased its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $7,438,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Price Performance

Shares of NYSE T opened at $22.34 on Thursday. The stock has a market cap of $160.30 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $21.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is presently 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.