Community Trust & Investment Co. Has $3.04 Million Position in AT&T Inc. (NYSE:T)

Community Trust & Investment Co. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,365 shares of the technology company’s stock after acquiring an additional 32,204 shares during the quarter. Community Trust & Investment Co.’s holdings in AT&T were worth $3,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board bought a new position in shares of AT&T in the first quarter valued at approximately $868,000. Baker Boyer National Bank bought a new position in shares of AT&T in the second quarter valued at approximately $832,000. Advisory Resource Group raised its position in shares of AT&T by 2.5% in the second quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock valued at $694,000 after purchasing an additional 1,043 shares during the period. Advance Capital Management Inc. raised its position in shares of AT&T by 6.3% in the second quarter. Advance Capital Management Inc. now owns 114,858 shares of the technology company’s stock valued at $1,832,000 after purchasing an additional 6,819 shares during the period. Finally, Point72 Europe London LLP bought a new position in shares of AT&T in the fourth quarter valued at approximately $28,443,000. Institutional investors own 53.65% of the company’s stock.

AT&T Stock Up 0.3 %

T stock traded up $0.04 during mid-day trading on Tuesday, hitting $15.13. 7,635,319 shares of the company were exchanged, compared to its average volume of 38,846,816. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68. The firm has a market cap of $108.16 billion, a P/E ratio of -12.37, a P/E/G ratio of 1.87 and a beta of 0.64. The firm’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $16.33. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 annualized dividend and a dividend yield of 7.34%. AT&T’s dividend payout ratio is currently -90.98%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of AT&T from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $17.00 in a research report on Friday, July 14th. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. StockNews.com initiated coverage on shares of AT&T in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Barclays decreased their price target on shares of AT&T from $18.00 to $17.00 in a research note on Thursday, July 6th. Finally, Wells Fargo & Company decreased their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 20th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

About AT&T

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.