Ledyard National Bank Cuts Position in AT&T Inc. (NYSE:T)

Ledyard National Bank trimmed its position in shares of AT&T Inc. (NYSE:T) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,164 shares of the technology company’s stock after selling 431 shares during the period. Ledyard National Bank’s holdings in AT&T were worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter worth approximately $25,000. YANKCOM Partnership purchased a new position in shares of AT&T in the 4th quarter worth approximately $30,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T during the 4th quarter valued at $34,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T in the third quarter worth $35,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T opened at $24.46 on Friday. The stock has a market capitalization of $175.47 billion, a PE ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.59. The company has a 50 day moving average price of $22.99 and a 200-day moving average price of $21.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.98.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities analysts predict that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.54%. AT&T’s dividend payout ratio (DPR) is presently 74.50%.

Analyst Ratings Changes

A number of research analysts have weighed in on T shares. Evercore ISI boosted their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Scotiabank raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, DZ Bank raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $26.21.

AT&T 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.