Thomasville National Bank Sells 3,075 Shares of AT&T Inc. (NYSE:T)

Thomasville National Bank trimmed its stake in AT&T Inc. (NYSE:T) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,361 shares of the technology company’s stock after selling 3,075 shares during the period. Thomasville National Bank’s holdings in AT&T were worth $771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. Steward Financial Group LLC boosted its position in shares of AT&T by 159.7% in the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after purchasing an additional 960 shares during the period. Carmel Capital Partners LLC purchased a new position in shares of AT&T during the 1st quarter valued at $31,000. FWL Investment Management LLC bought a new position in AT&T in the 4th quarter worth $31,000. Lakewood Asset Management LLC purchased a new stake in AT&T in the 4th quarter worth $32,000. Finally, Sageworth Trust Co bought a new stake in AT&T during the first quarter valued at about $32,000. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on T. Argus cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. HSBC decreased their price target on shares of AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective on shares of AT&T in a research report on Thursday, August 3rd. Wells Fargo & Company decreased their target price on AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. Finally, StockNews.com started coverage on AT&T in a report on Thursday, August 17th. They set a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Hold” and a consensus target price of $20.00.

AT&T Stock Up 1.1 %

Shares of NYSE T traded up $0.17 during midday trading on Friday, reaching $15.23. 80,594,245 shares of the company’s stock traded hands, compared to its average volume of 32,218,100. The company has a market cap of $108.88 billion, a price-to-earnings ratio of -12.48, a P/E/G ratio of 1.85 and a beta of 0.64. The stock’s 50 day simple moving average is $14.47 and its 200-day simple moving average is $16.39. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $29.92 billion for the quarter, compared to the consensus estimate of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, analysts predict that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.29%. AT&T’s dividend payout ratio (DPR) is -90.98%.

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