Busey Bank Has $1.95 Million Stock Holdings in AT&T Inc. (NYSE:T)

Busey Bank reduced its position in shares of AT&T Inc. (NYSE:T) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 88,497 shares of the technology company’s stock after selling 5,953 shares during the quarter. Busey Bank’s holdings in AT&T were worth $1,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC increased its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in 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 valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC increased 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 worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter worth approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.3 %

Shares of T opened at $22.19 on Friday. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.58. The business has a 50-day moving average of $21.09 and a 200 day moving average of $19.06. The firm has a market cap of $159.11 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. AT&T’s dividend payout ratio is currently 63.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.