Spinnaker Trust Raises Stock Holdings in AT&T Inc. $T

Spinnaker Trust lifted its holdings in shares of AT&T Inc. (NYSE:T) by 2.0% in the second quarter, HoldingsChannel.com reports. The fund owned 100,540 shares of the technology company’s stock after acquiring an additional 1,992 shares during the period. Spinnaker Trust’s holdings in AT&T were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the second quarter valued at approximately $26,000. Solstein Capital LLC increased its position in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Kennebec Savings Bank lifted its stake in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on T. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Royal Bank Of Canada dropped their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Williams Trading set a $33.00 price objective on AT&T in a research note on Thursday, October 23rd. Wells Fargo & Company dropped their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Stock Down 2.2%

Shares of NYSE T opened at $25.13 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a market cap of $179.66 billion, a P/E ratio of 8.16, a P/E/G ratio of 2.21 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The business has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $27.74.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

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.