Parkside Financial Bank & Trust Grows Position in AT&T Inc. (NYSE:T)

Parkside Financial Bank & Trust increased its position in AT&T Inc. (NYSE:T) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,853 shares of the technology company’s stock after purchasing an additional 3,958 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AT&T were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in 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. JB Capital LLC boosted its holdings in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after buying an additional 614 shares during the last quarter. Schubert & Co boosted its holdings in AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after buying an additional 631 shares during the last quarter. Roof Eidam Maycock Peralta LLC boosted its holdings in AT&T by 6.3% in the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock worth $169,000 after buying an additional 666 shares during the last quarter. Finally, MBM Wealth Consultants LLC lifted its stake in AT&T by 4.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

NYSE:T traded up $0.17 during trading hours on Tuesday, reaching $16.48. 27,557,999 shares of the company were exchanged, compared to its average volume of 38,613,418. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $117.88 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.49 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The stock has a 50 day simple moving average of $16.99 and a 200 day simple moving average of $16.53.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. As a group, analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.74%. AT&T’s dividend payout ratio is currently 56.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.