AT&T Inc. (NYSE:T) Stake Reduced by Amalgamated Bank

Amalgamated Bank decreased its stake in AT&T Inc. (NYSE:T) by 4.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,723,085 shares of the technology company’s stock after selling 78,694 shares during the period. Amalgamated Bank’s holdings in AT&T were worth $28,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. JB Capital LLC increased its stake in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after buying an additional 614 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in shares of AT&T by 0.6% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 630 shares during the period. Schubert & Co grew its position in shares of AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after buying an additional 631 shares during the last quarter. Finally, MBM Wealth Consultants LLC boosted its holdings in AT&T by 4.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock valued at $270,000 after acquiring an additional 678 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, January 19th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Down 0.6 %

T traded down $0.10 during trading on Thursday, hitting $16.82. 31,453,088 shares of the company’s stock traded hands, compared to its average volume of 39,280,355. The stock has a market capitalization of $120.31 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.32 and a beta of 0.57. The company’s 50 day simple moving average is $16.96 and its two-hundred day simple moving average is $16.62. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the firm posted $0.60 earnings per share. AT&T’s revenue was down .4% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.60%. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T 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.