AT&T Inc. (NYSE:T) Shares Sold by Farmers Trust Co.

Farmers Trust Co. reduced its stake in shares of AT&T Inc. (NYSE:T) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 286,539 shares of the technology company’s stock after selling 2,895 shares during the quarter. AT&T comprises approximately 1.2% of Farmers Trust Co.’s holdings, making the stock its 21st biggest position. Farmers Trust Co.’s holdings in AT&T were worth $6,524,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of T. International Assets Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth $14,700,000. Park National Corp OH boosted its stake in shares of AT&T by 1.1% during the 4th quarter. Park National Corp OH now owns 62,854 shares of the technology company’s stock worth $1,431,000 after acquiring an additional 677 shares in the last quarter. Peoples Bank KS grew its position in shares of AT&T by 5.1% during the 4th quarter. Peoples Bank KS now owns 30,238 shares of the technology company’s stock valued at $688,000 after acquiring an additional 1,475 shares during the period. Spartan Planning & Wealth Management purchased a new position in shares of AT&T in the 4th quarter valued at about $284,000. Finally, Diversified Trust Co raised its holdings in AT&T by 0.7% in the 4th quarter. Diversified Trust Co now owns 170,419 shares of the technology company’s stock worth $3,880,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2 %

T stock traded up $0.04 during mid-day trading on Wednesday, hitting $22.24. 24,915,197 shares of the company were exchanged, compared to its average volume of 29,660,539. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market capitalization of $159.58 billion, a P/E ratio of 18.08, a PEG ratio of 3.60 and a beta of 0.59. The business has a fifty day simple moving average of $22.83 and a 200-day simple moving average of $21.17. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results 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. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target on the stock. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.76.

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.