Farmers Trust Co. Sells 2,895 Shares of AT&T Inc. (NYSE:T)

Farmers Trust Co. lessened its position in AT&T Inc. (NYSE:T) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 286,539 shares of the technology company’s stock after selling 2,895 shares during the period. AT&T accounts for 1.2% of Farmers Trust Co.’s investment portfolio, making the stock its 21st biggest position. Farmers Trust Co.’s holdings in AT&T were worth $6,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Legacy Investment Solutions LLC purchased a new position in AT&T during the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE lifted its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter worth about $30,000. Finally, Reston Wealth Management LLC purchased a new stake in AT&T in the third quarter worth about $35,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Finally, Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $22.00 to $26.00 in a research report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Up 0.2 %

NYSE:T traded up $0.04 during mid-day trading on Wednesday, reaching $22.24. The company’s stock had a trading volume of 24,915,197 shares, compared to its average volume of 29,660,539. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $159.58 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The stock has a fifty day moving average of $22.83 and a 200-day moving average of $21.17. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Equities research analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.99%. AT&T’s dividend payout ratio is presently 90.24%.

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.