Smithfield Trust Co Has $581,000 Holdings in AT&T Inc. (NYSE:T)

Smithfield Trust Co lessened its stake in AT&T Inc. (NYSE:T) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,426 shares of the technology company’s stock after selling 3,265 shares during the quarter. Smithfield Trust Co’s holdings in AT&T were worth $581,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% during the second 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 in the last quarter. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter worth about $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of NYSE:T opened at $23.03 on Friday. The company has a market capitalization of $165.21 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a fifty day moving average price of $21.99 and a two-hundred day moving average price of $19.88. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.20.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.82%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company Profile

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.