UMB Bank n.a. Decreases Position in AT&T Inc. (NYSE:T)

UMB Bank n.a. decreased its stake in AT&T Inc. (NYSE:T) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,890 shares of the technology company’s stock after selling 20,498 shares during the quarter. UMB Bank n.a.’s holdings in AT&T were worth $2,660,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter worth about $25,000. Strategic Financial Concepts LLC raised its holdings in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter valued at $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $21.23 on Friday. The firm has a market capitalization of $152.22 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The business’s 50-day moving average is $20.64 and its two-hundred day moving average is $18.77. AT&T Inc. has a 1 year low of $14.23 and a 1 year high of $22.34.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is currently 63.79%.

Analyst Ratings Changes

T has been the subject of several research analyst reports. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $22.38.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.