Morton Community Bank Sells 545 Shares of AT&T Inc. (NYSE:T)

Morton Community Bank trimmed its position in shares of AT&T Inc. (NYSE:T) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,403 shares of the technology company’s stock after selling 545 shares during the period. Morton Community Bank’s holdings in AT&T were worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. FMR LLC boosted its holdings in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc boosted its holdings in shares of AT&T by 2.7% in the second 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 period. Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after acquiring an additional 315,580 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.5 %

Shares of T stock opened at $23.16 on Friday. 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 business has a 50-day moving average price of $22.17 and a two-hundred day moving average price of $20.15. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38. The firm has a market cap of $166.18 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

A number of research firms have recently commented on T. Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer raised their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

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.