Adirondack Trust Co. Trims Stock Position in AT&T Inc. (NYSE:T)

Adirondack Trust Co. cut its position in AT&T Inc. (NYSE:T) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,991 shares of the technology company’s stock after selling 4,006 shares during the quarter. Adirondack Trust Co.’s holdings in AT&T were worth $569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service lifted its stake in AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the last quarter. Finally, Caxton Associates LP grew its stake in shares of AT&T by 4,115.6% during the second quarter. Caxton Associates LP now owns 2,151,025 shares of the technology company’s stock valued at $41,106,000 after buying an additional 2,100,000 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.7 %

T opened at $22.34 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50 day moving average price is $22.80 and its 200-day moving average price is $21.40. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The stock has a market cap of $160.30 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.97%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on T shares. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

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.