AT&T Inc. (NYSE:T) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department reduced its stake in AT&T Inc. (NYSE:T) by 52.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,693 shares of the technology company’s stock after selling 129,888 shares during the period. Trustmark National Bank Trust Department’s holdings in AT&T were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Financial Group LLC increased its stake in AT&T by 159.7% during 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. Grey Fox Wealth Advisors LLC boosted its holdings in AT&T by 41,000.0% in the first quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,640 shares in the last quarter. Sageworth Trust Co acquired a new stake in shares of AT&T in the first quarter valued at approximately $32,000. FWL Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $34,000. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.1 %

Shares of NYSE:T opened at $15.90 on Friday. The firm has a market cap of $113.69 billion, a price-to-earnings ratio of -10.33, a PEG ratio of 1.94 and a beta of 0.60. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $20.50. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. The stock’s 50-day moving average price is $15.13 and its two-hundred day moving average price is $15.25.

AT&T (NYSE:T) last released its quarterly earnings data on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $30.35 billion for the quarter, compared to analyst estimates of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, research analysts forecast that AT&T Inc. will post 2.44 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.11 annualized dividend and a dividend yield of 6.98%. AT&T’s payout ratio is currently -72.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price target on AT&T from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Citigroup increased their price objective on AT&T from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. StockNews.com initiated coverage on AT&T in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Scotiabank raised AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 price objective on the stock in a research note on Friday, October 20th. Finally, Morgan Stanley decreased their price objective on AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.90.

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.