Members Trust Co Buys 3,319 Shares of AT&T Inc. (NYSE:T)

Members Trust Co grew its holdings in AT&T Inc. (NYSE:T) by 9.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,025 shares of the technology company’s stock after acquiring an additional 3,319 shares during the quarter. Members Trust Co’s holdings in AT&T were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of T. BlackRock Inc. raised its stake in AT&T by 0.4% during the first quarter. BlackRock Inc. now owns 523,127,988 shares of the technology company’s stock worth $10,070,214,000 after acquiring an additional 1,985,371 shares in the last quarter. State Street Corp boosted its holdings in AT&T by 0.5% during the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares during the last quarter. Newport Trust Co grew its position in shares of AT&T by 0.7% in the 1st quarter. Newport Trust Co now owns 196,653,545 shares of the technology company’s stock valued at $3,785,581,000 after purchasing an additional 1,337,195 shares during the period. Geode Capital Management LLC lifted its stake in AT&T by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 134,387,114 shares of the technology company’s stock valued at $2,581,839,000 after acquiring an additional 530,478 shares in the last quarter. Finally, Morgan Stanley lifted its stake in AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after acquiring an additional 29,769,976 shares in the last quarter. 53.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada decreased their price objective on AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. HSBC reduced their price objective on AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. Barclays dropped their price target on AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Moffett Nathanson upgraded AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price on the stock in a research note on Tuesday, June 6th. Finally, Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, August 29th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.00.

AT&T Stock Up 1.1 %

Shares of NYSE:T traded up $0.17 during trading on Friday, hitting $15.23. The company’s stock had a trading volume of 80,594,245 shares, compared to its average volume of 32,218,100. The business has a 50 day moving average price of $14.46 and a two-hundred day moving average price of $16.35. The company has a market capitalization of $108.88 billion, a PE ratio of -12.48, a P/E/G ratio of 1.85 and a beta of 0.64. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $20.50.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The company had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed 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. This represents a $1.11 annualized dividend and a dividend yield of 7.29%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s payout ratio is -90.98%.

AT&T 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.