Greenleaf Trust Has $4.48 Million Stake in AT&T Inc. (NYSE:T)

Greenleaf Trust grew its holdings in AT&T Inc. (NYSE:T) by 5.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 158,237 shares of the technology company’s stock after acquiring an additional 8,770 shares during the period. Greenleaf Trust’s holdings in AT&T were worth $4,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Minot DeBlois Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in shares of AT&T during the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of AT&T during the fourth quarter valued at about $27,000. Core Alternative Capital lifted its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of AT&T in the fourth quarter worth approximately $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Oppenheimer upped their price target on AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $29.05.

AT&T Stock Performance

Shares of T opened at $28.30 on Wednesday. The stock’s 50-day simple moving average is $27.83 and its 200 day simple moving average is $26.23. The stock has a market capitalization of $203.64 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 4.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $18.14 and a 52-week high of $29.19.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. AT&T’s dividend payout ratio is currently 68.10%.

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.