AT&T Inc. (NYSE:T) Position Reduced by Spinnaker Trust

Spinnaker Trust decreased its position in shares of AT&T Inc. (NYSE:T) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,300 shares of the technology company’s stock after selling 1,136 shares during the period. Spinnaker Trust’s holdings in AT&T were worth $2,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Carmel Capital Partners LLC grew its position in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new position in AT&T in the third quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the third quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. grew its position in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded up $0.17 during midday trading on Friday, reaching $16.75. 37,852,681 shares of the company’s stock were exchanged, compared to its average volume of 39,190,348. The firm has a market capitalization of $119.81 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The business has a 50-day simple moving average of $16.96 and a two-hundred day simple moving average of $16.56.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays increased their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Citigroup lifted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Company 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.