Trustmark Bank Trust Department Grows Position in AT&T Inc. $T

Trustmark Bank Trust Department grew its stake in AT&T Inc. (NYSE:T) by 8.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,774 shares of the technology company’s stock after acquiring an additional 7,619 shares during the quarter. Trustmark Bank Trust Department’s holdings in AT&T were worth $2,772,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Stablepoint Partners LLC raised its stake in AT&T by 0.9% in the 2nd quarter. Stablepoint Partners LLC now owns 248,178 shares of the technology company’s stock valued at $7,182,000 after purchasing an additional 2,239 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in shares of AT&T by 6.8% during the second quarter. Legacy Capital Wealth Partners LLC now owns 27,868 shares of the technology company’s stock worth $807,000 after buying an additional 1,781 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of AT&T by 2.6% in the second quarter. New York State Common Retirement Fund now owns 8,770,677 shares of the technology company’s stock valued at $253,823,000 after buying an additional 222,600 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of AT&T by 24.7% during the second quarter. West Family Investments Inc. now owns 47,328 shares of the technology company’s stock valued at $1,370,000 after buying an additional 9,367 shares during the period. Finally, Williamson Legacy Group LLC boosted its position in AT&T by 368.9% during the second quarter. Williamson Legacy Group LLC now owns 47,644 shares of the technology company’s stock worth $1,379,000 after acquiring an additional 37,484 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Tuesday, November 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, UBS Group restated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Trading Up 0.7%

Shares of T opened at $25.99 on Friday. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The firm has a market capitalization of $184.25 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock’s fifty day simple moving average is $26.02 and its 200 day simple moving average is $27.43.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is 36.04%.

AT&T Company 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.