AT&T Inc. (NYSE:T) Stock Holdings Lowered by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,148 shares of the technology company’s stock after selling 17,238 shares during the quarter. AT&T accounts for 0.7% of MidWestOne Financial Group Inc.’s holdings, making the stock its 19th biggest position. MidWestOne Financial Group Inc.’s holdings in AT&T were worth $4,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Marshall Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $28,000. YANKCOM Partnership purchased a new position in shares of AT&T in the fourth quarter worth approximately $30,000. Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the fourth quarter worth approximately $34,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. Sanford C. Bernstein boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 29th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Monday, April 7th. Wells Fargo & Company upped their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Price Performance

NYSE T opened at $27.77 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $27.26 and a 200 day simple moving average of $25.00. The company has a market cap of $199.82 billion, a P/E ratio of 18.64, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 1 year low of $17.11 and a 1 year high of $29.03.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is currently 68.10%.

About AT&T

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.