Plimoth Trust Co. LLC Raises Position in AT&T Inc. (NYSE:T)

Plimoth Trust Co. LLC lifted its position in AT&T Inc. (NYSE:T) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,294 shares of the technology company’s stock after buying an additional 10,217 shares during the period. AT&T comprises 1.2% of Plimoth Trust Co. LLC’s portfolio, making the stock its 25th largest holding. Plimoth Trust Co. LLC’s holdings in AT&T were worth $4,618,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares during the period. Geode Capital Management LLC lifted its position in AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC lifted its position in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in AT&T in the 4th quarter worth approximately $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.0%

NYSE T opened at $27.65 on Thursday. AT&T Inc. has a 12 month low of $17.90 and a 12 month high of $29.03. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The stock has a market cap of $198.92 billion, a PE ratio of 16.96, a P/E/G ratio of 3.85 and a beta of 0.41. The stock’s 50 day moving average is $27.49 and its 200 day moving average is $25.72.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on T. Royal Bank Of Canada boosted their price target on AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Evercore ISI upped their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.76.

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.