Trustco Bank Corp N Y boosted its position in shares of AT&T Inc. (NYSE:T) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 48,597 shares of the company’s stock after buying an additional 675 shares during the period. AT&T accounts for 2.1% of Trustco Bank Corp N Y’s holdings, making the stock its 14th largest position. Trustco Bank Corp N Y’s holdings in AT&T were worth $2,100,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of T. Proficio Capital Partners LLC raised its position in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners increased its position in shares of AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC increased its position in shares of AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the last quarter. Invictus RG increased its position in shares of AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the last quarter. Finally, JNBA Financial Advisors increased its position in shares of AT&T by 6.6% in the second quarter. JNBA Financial Advisors now owns 3,852 shares of the company’s stock worth $166,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 53.64% of the company’s stock.
Shares of AT&T Inc. (NYSE:T) traded down 0.38% during trading on Friday, reaching $39.22. 13,516,996 shares of the company traded hands. AT&T Inc. has a 52 week low of $32.22 and a 52 week high of $43.89. The firm’s 50 day moving average price is $40.33 and its 200-day moving average price is $40.51. The company has a market capitalization of $241.28 billion, a price-to-earnings ratio of 16.91 and a beta of 0.30.
AT&T (NYSE:T) last posted its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. Equities analysts anticipate that AT&T Inc. will post $2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 4.90%. AT&T’s payout ratio is 83.12%.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a report on Wednesday, August 3rd. S&P Equity Research set a $46.00 price target on shares of AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a report on Monday, July 25th. Finally, Citigroup Inc. downgraded shares of AT&T from a “buy” rating to a “neutral” rating and increased their price target for the company from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.86.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T Inc. and related companies with MarketBeat.com's FREE daily email newsletter.