Somerset Trust Co Purchases 3,104 Shares of AT&T Inc. (NYSE:T)

Somerset Trust Co lifted its position in AT&T Inc. (NYSE:T) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,454 shares of the technology company’s stock after buying an additional 3,104 shares during the quarter. Somerset Trust Co’s holdings in AT&T were worth $1,710,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in T. Norges Bank acquired a new stake in AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC lifted its holdings in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its holdings in AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after purchasing an additional 9,719,036 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $27.73 on Friday. The business has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $25.27. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $199.53 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a one year low of $17.42 and a one year high of $29.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Company Profile

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.