Rodgers Brothers Inc. Sells 419 Shares of AT&T Inc. (NYSE:T)

Rodgers Brothers Inc. reduced its stake in AT&T Inc. (NYSE:T) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,583 shares of the technology company’s stock after selling 419 shares during the quarter. Rodgers Brothers Inc.’s holdings in AT&T were worth $537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Tradition Wealth Management LLC acquired a new position in AT&T during the third quarter worth $270,000. Kestra Investment Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth about $382,000. Paloma Partners Management Co grew its holdings in shares of AT&T by 141.8% in the 3rd quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company’s stock valued at $683,000 after acquiring an additional 105,338 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of AT&T by 1,855.5% in the third quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company’s stock valued at $2,042,000 after acquiring an additional 88,064 shares during the last quarter. Finally, Concentric Capital Strategies LP bought a new stake in AT&T during the third quarter worth about $1,978,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE:T opened at $28.33 on Tuesday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.56. The company’s 50 day moving average price is $25.82 and its two-hundred day moving average price is $23.59. The firm has a market cap of $203.32 billion, a PE ratio of 19.01, a PEG ratio of 3.00 and a beta of 0.56. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.92%. AT&T’s dividend payout ratio is 74.50%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on T. Citigroup boosted their price target on AT&T from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. BNP Paribas raised shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective for the company in a research report on Thursday, February 13th. Tigress Financial upped their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

AT&T Company 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.