CENTRAL TRUST Co Has $4.40 Million Stake in AT&T Inc. (NYSE:T)

CENTRAL TRUST Co cut its stake in AT&T Inc. (NYSE:T) by 2.7% in the third quarter, Holdings Channel.com reports. The firm owned 199,783 shares of the technology company’s stock after selling 5,598 shares during the quarter. CENTRAL TRUST Co’s holdings in AT&T were worth $4,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its holdings in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the second quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 1.3 %

Shares of AT&T stock opened at $22.19 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a 50-day moving average of $21.09 and a 200-day moving average of $19.06. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.58. The stock has a market cap of $159.11 billion, a PE ratio of 12.75, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.00%. AT&T’s dividend payout ratio is presently 63.79%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on T. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.