M&T Bank Corp Sells 7,952 Shares of AT&T Inc. (NYSE:T)

M&T Bank Corp lessened its holdings in AT&T Inc. (NYSE:T) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,045,639 shares of the technology company’s stock after selling 7,952 shares during the quarter. M&T Bank Corp’s holdings in AT&T were worth $23,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank raised its holdings in shares of AT&T by 0.5% in the third 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 last quarter. Franklin Resources Inc. grew its stake in shares of AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp grew its stake in shares of AT&T by 7.4% in the fourth quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company’s stock valued at $7,288,000 after buying an additional 21,927 shares in the last quarter. Finally, Caprock Group LLC grew its stake in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on T. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Sanford C. Bernstein boosted their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Barclays boosted their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Trading Down 0.1 %

NYSE T opened at $26.19 on Thursday. The stock’s fifty day moving average price is $24.14 and its 200-day moving average price is $22.72. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The stock has a market cap of $188.03 billion, a P/E ratio of 17.58, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.24%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

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.