Ledyard National Bank Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Ledyard National Bank cut its holdings in AT&T Inc. (NYSE:T) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 232,164 shares of the technology company’s stock after selling 431 shares during the quarter. Ledyard National Bank’s holdings in AT&T were worth $5,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp lifted its stake in shares of AT&T by 221.5% during the fourth quarter. Consolidated Portfolio Review Corp now owns 114,517 shares of the technology company’s stock worth $2,608,000 after buying an additional 78,898 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in AT&T in the 4th quarter worth $332,000. GHP Investment Advisors Inc. lifted its position in AT&T by 6.9% during the 4th quarter. GHP Investment Advisors Inc. now owns 16,367 shares of the technology company’s stock worth $373,000 after acquiring an additional 1,053 shares during the period. Silver Oak Securities Incorporated grew its stake in AT&T by 12.7% during the 4th quarter. Silver Oak Securities Incorporated now owns 113,926 shares of the technology company’s stock valued at $2,576,000 after purchasing an additional 12,802 shares during the last quarter. Finally, Adero Partners LLC acquired a new position in shares of AT&T in the fourth quarter valued at about $231,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $24.46 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a fifty day moving average of $22.99 and a 200 day moving average of $21.75. The firm has a market cap of $175.47 billion, a PE ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, research analysts predict that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.54%. AT&T’s payout ratio is currently 74.50%.

Analyst Ratings Changes

A number of equities research analysts recently commented on T shares. Tigress Financial lifted their target price on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.