Independence Bank of Kentucky Buys 2,037 Shares of AT&T Inc. (NYSE:T)

Independence Bank of Kentucky boosted its stake in shares of AT&T Inc. (NYSE:T) by 48.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,243 shares of the technology company’s stock after buying an additional 2,037 shares during the quarter. Independence Bank of Kentucky’s holdings in AT&T were worth $110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Pineridge Advisors LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in shares of AT&T in the 4th quarter worth approximately $39,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the topic of several recent research reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

AT&T Trading Up 1.9 %

T stock traded up $0.36 during mid-day trading on Friday, hitting $19.11. 52,825,162 shares of the company were exchanged, compared to its average volume of 33,874,564. The firm has a market capitalization of $137.02 billion, a P/E ratio of 10.28, a PEG ratio of 4.26 and a beta of 0.60. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.13. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $17.17.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.81%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.