Rockland Trust Co. Sells 2,077 Shares of AT&T Inc. (NYSE:T)

Rockland Trust Co. decreased its position in AT&T Inc. (NYSE:T) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,439 shares of the technology company’s stock after selling 2,077 shares during the period. Rockland Trust Co.’s holdings in AT&T were worth $739,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in AT&T in the second quarter worth about $30,000. Reston Wealth Management LLC bought a new position in AT&T during the 3rd quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in AT&T during the 3rd quarter valued at about $35,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Stock Performance

Shares of T stock opened at $21.90 on Thursday. 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 of $22.80 and a 200 day moving average of $21.28. The firm has a market capitalization of $157.14 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.07%. AT&T’s payout ratio is currently 90.24%.

AT&T 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.