Ledyard National Bank Sells 1,649 Shares of AT&T Inc. (NYSE:T)

Ledyard National Bank decreased its position in AT&T Inc. (NYSE:T) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 232,595 shares of the technology company’s stock after selling 1,649 shares during the period. Ledyard National Bank’s holdings in AT&T were worth $5,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Mercer Global Advisors Inc. ADV boosted its position in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC grew its stake in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of AT&T in the 2nd quarter valued at about $78,570,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

Shares of AT&T stock opened at $21.67 on Tuesday. The firm has a market cap of $155.38 billion, a PE ratio of 12.45, a P/E/G ratio of 3.73 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $20.99 and a 200 day moving average price of $19.01.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. AT&T’s dividend payout ratio is currently 63.79%.

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.