Private Trust Co. NA Buys 3,297 Shares of AT&T Inc. (NYSE:T)

Private Trust Co. NA raised its stake in AT&T Inc. (NYSE:T) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 63,578 shares of the technology company’s stock after purchasing an additional 3,297 shares during the quarter. Private Trust Co. NA’s holdings in AT&T were worth $1,399,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC grew its stake in shares of AT&T by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 89,169 shares of the technology company’s stock worth $1,962,000 after purchasing an additional 543 shares during the last quarter. Truvestments Capital LLC grew its position in shares of AT&T by 14.9% in the 3rd quarter. Truvestments Capital LLC now owns 14,454 shares of the technology company’s stock worth $318,000 after buying an additional 1,878 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of AT&T by 908.3% during the third quarter. Loomis Sayles & Co. L P now owns 42,309 shares of the technology company’s stock valued at $931,000 after buying an additional 38,113 shares during the period. Independent Advisor Alliance bought a new position in shares of AT&T during the third quarter valued at approximately $4,001,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in AT&T by 1,453.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 75,560 shares of the technology company’s stock worth $1,661,000 after acquiring an additional 70,696 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.3 %

NYSE:T opened at $23.10 on Tuesday. The stock has a market cap of $165.75 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 3.48 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 company’s 50 day moving average price is $22.04 and its 200-day moving average price is $20.00. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $23.32.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

T has been the subject of several research reports. Barclays upped their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Profile

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.