Stock Yards Bank & Trust Co. Trims Stock Holdings in AT&T Inc. $T

Stock Yards Bank & Trust Co. reduced its stake in AT&T Inc. (NYSE:T) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,477 shares of the technology company’s stock after selling 2,256 shares during the period. Stock Yards Bank & Trust Co.’s holdings in AT&T were worth $4,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of T. Brighton Jones LLC raised its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after buying an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in AT&T by 24.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock valued at $397,000 after buying an additional 2,725 shares during the period. Beacon Financial Group raised its holdings in AT&T by 2.9% in the 1st quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock valued at $424,000 after buying an additional 417 shares during the period. Fermata Advisors LLC purchased a new stake in AT&T in the 1st quarter valued at about $227,000. Finally, Chesley Taft & Associates LLC raised its holdings in AT&T by 5.0% in the 1st quarter. Chesley Taft & Associates LLC now owns 38,503 shares of the technology company’s stock valued at $1,089,000 after buying an additional 1,832 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2%

Shares of AT&T stock opened at $27.06 on Friday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The company has a 50 day moving average of $28.60 and a 200 day moving average of $27.91. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Analyst Ratings Changes

A number of analysts have issued reports on T shares. Barclays reiterated an “equal weight” rating and set a $30.00 price target on shares of AT&T in a research note on Wednesday. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

About AT&T

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.