AT&T Inc. (NYSE:T) Shares Sold by Trustco Bank Corp N Y

Trustco Bank Corp N Y decreased its holdings in shares of AT&T Inc. (NYSE:T) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,702 shares of the technology company’s stock after selling 1,315 shares during the quarter. Trustco Bank Corp N Y’s holdings in AT&T were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $25,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at $28,000. Tradewinds Capital Management LLC boosted its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. YANKCOM Partnership acquired a new position in AT&T in the fourth quarter valued at $30,000. Finally, Endeavor Private Wealth Inc. acquired a new position in AT&T in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.4%

Shares of AT&T stock opened at $27.72 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $199.43 billion, a P/E ratio of 18.60, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03. The business has a 50-day moving average price of $27.18 and a 200 day moving average price of $24.94.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. AT&T’s payout ratio is currently 68.10%.

Analyst Ratings Changes

A number of research analysts recently weighed in on T shares. TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Evercore ISI lifted their target price on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Monday, April 7th. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.71.

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.