Smithfield Trust Co Sells 3,265 Shares of AT&T Inc. (NYSE:T)

Smithfield Trust Co lowered its stake in AT&T Inc. (NYSE:T) by 11.0% in the 3rd quarter, Holdings Channel reports. The firm owned 26,426 shares of the technology company’s stock after selling 3,265 shares during the quarter. Smithfield Trust Co’s holdings in AT&T were worth $581,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC boosted its stake in AT&T by 107.5% in 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 during the period. Reston Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth about $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on T. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Citigroup raised their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays raised their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Up 0.9 %

NYSE T opened at $23.03 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.20. The firm has a market capitalization of $165.21 billion, a PE ratio of 18.72, a P/E/G ratio of 3.41 and a beta of 0.59. The stock’s 50 day moving average is $21.99 and its 200 day moving average is $19.88.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.82%. AT&T’s dividend payout ratio is presently 90.24%.

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.