AT&T Inc. (NYSE:T) Position Lessened by Independence Bank of Kentucky

Independence Bank of Kentucky decreased its stake in AT&T Inc. (NYSE:TFree Report) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,206 shares of the technology company’s stock after selling 1,910 shares during the period. Independence Bank of Kentucky’s holdings in AT&T were worth $71,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Axiom Financial Strategies LLC increased its position in AT&T by 12.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock valued at $342,000 after acquiring an additional 1,941 shares during the period. Roundview Capital LLC increased its position in AT&T by 62.3% in the 1st quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock valued at $582,000 after acquiring an additional 9,450 shares during the period. Sei Investments Co. increased its position in AT&T by 23.1% in the 1st quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock valued at $25,983,000 after acquiring an additional 206,434 shares during the period. Candriam Luxembourg S.C.A. increased its position in AT&T by 5.5% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock valued at $11,262,000 after acquiring an additional 25,028 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in AT&T by 1,191.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after acquiring an additional 11,722 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on T shares. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Citigroup lifted their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $21.61.

Check Out Our Latest Stock Analysis on T

AT&T Stock Performance

Shares of NYSE T opened at $17.61 on Thursday. The stock has a market capitalization of $125.96 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.64 and a beta of 0.57. The stock’s fifty day simple moving average is $17.19 and its 200 day simple moving average is $16.37. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.99.

AT&T (NYSE:TGet Free Report) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.30%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

AT&T Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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