Plimoth Trust Co. LLC Sells 546 Shares of AT&T Inc. $T

Plimoth Trust Co. LLC lowered its position in AT&T Inc. (NYSE:T) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 162,748 shares of the technology company’s stock after selling 546 shares during the quarter. AT&T accounts for about 1.1% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 26th biggest holding. Plimoth Trust Co. LLC’s holdings in AT&T were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T during the second quarter valued at approximately $5,266,758,000. Nuveen LLC bought a new stake in shares of AT&T during the 1st quarter valued at $1,072,128,000. GQG Partners LLC increased its stake in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on T shares. Barclays reissued an “equal weight” rating and set a $30.00 price target on shares of AT&T in a report on Wednesday. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Price Performance

Shares of NYSE:T opened at $27.06 on Monday. The firm has a market cap of $193.49 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The firm has a fifty day moving average price of $28.60 and a 200 day moving average price of $27.93. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

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.