Spinnaker Trust Has $1.82 Million Position in AT&T Inc. (NYSE:T)

Spinnaker Trust lowered its position in AT&T Inc. (NYSE:TFree Report) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,436 shares of the technology company’s stock after selling 9,126 shares during the period. Spinnaker Trust’s holdings in AT&T were worth $1,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its holdings in AT&T by 2.2% during the 2nd quarter. BlackRock Inc. now owns 534,767,576 shares of the technology company’s stock worth $8,529,543,000 after acquiring an additional 11,639,588 shares during the period. State Street Corp boosted its position in shares of AT&T by 3.4% during the second quarter. State Street Corp now owns 297,085,864 shares of the technology company’s stock worth $4,738,520,000 after purchasing an additional 9,781,352 shares in the last quarter. Newport Trust Company LLC boosted its position in shares of AT&T by 0.3% during the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after purchasing an additional 673,043 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AT&T by 2.8% during the second quarter. Geode Capital Management LLC now owns 138,173,010 shares of the technology company’s stock worth $2,198,463,000 after purchasing an additional 3,785,896 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.

AT&T Stock Down 0.6 %

Shares of T opened at $17.72 on Monday. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.99. The firm has a market cap of $126.70 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 2.65 and a beta of 0.59. The firm’s 50-day simple moving average is $16.82 and its 200 day simple moving average is $15.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. During the same quarter last year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, January 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.26%. AT&T’s payout ratio is presently 56.63%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on T shares. Morgan Stanley reduced their price target on shares of AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Barclays boosted their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $21.65.

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AT&T Company 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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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