Sunflower Bank N.A. Acquires 845 Shares of AT&T Inc. (NYSE:T)

Sunflower Bank N.A. grew its stake in AT&T Inc. (NYSE:T) by 5.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,855 shares of the technology company’s stock after acquiring an additional 845 shares during the quarter. Sunflower Bank N.A.’s holdings in AT&T were worth $393,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AT&T by 7.4% in the 2nd 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 acquiring an additional 5,592,123 shares in the last quarter. Legal & General Group Plc grew its position in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management raised its position in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen raised their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Oppenheimer upped their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AT&T Trading Up 0.7 %

T traded up $0.15 during midday trading on Friday, reaching $21.37. 25,249,822 shares of the company were exchanged, compared to its average volume of 35,699,320. The stock has a market capitalization of $153.23 billion, a P/E ratio of 12.28, a PEG ratio of 3.74 and a beta of 0.60. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34. The stock’s 50-day simple moving average is $20.71 and its 200 day simple moving average is $18.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. During the same quarter last year, the firm earned $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Thursday, October 10th. 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.