Trustmark National Bank Trust Department Sells 987 Shares of AT&T Inc. (NYSE:T)

Trustmark National Bank Trust Department cut its position in AT&T Inc. (NYSE:T) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,260 shares of the technology company’s stock after selling 987 shares during the quarter. Trustmark National Bank Trust Department’s holdings in AT&T were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its holdings in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares in the last quarter. Norges Bank acquired a new position in AT&T in the 4th quarter valued at $1,118,288,000. Charles Schwab Investment Management Inc. raised its holdings in AT&T by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock valued at $848,888,000 after acquiring an additional 798,024 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AT&T by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after acquiring an additional 1,137,792 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.6 %

Shares of NYSE T traded down $0.11 during trading on Tuesday, reaching $18.44. The company had a trading volume of 30,268,924 shares, compared to its average volume of 36,268,180. The company’s fifty day moving average price is $18.19 and its 200-day moving average price is $17.42. AT&T Inc. has a 12 month low of $13.89 and a 12 month high of $19.33. The stock has a market cap of $132.22 billion, a P/E ratio of 9.91, a PEG ratio of 3.61 and a beta of 0.58. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 6.02%. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Scotiabank boosted their price target on AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.85.

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.