FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $945,000 Holdings in AT&T Inc. (NYSE:T)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in AT&T Inc. (NYSE:T) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,949 shares of the technology company’s stock after purchasing an additional 1,126 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in AT&T were worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.7 %

NYSE T opened at $21.38 on Friday. AT&T Inc. has a 12 month low of $14.23 and a 12 month high of $22.34. The stock has a 50-day simple moving average of $20.71 and a 200 day simple moving average of $18.82. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $153.26 billion, a PE ratio of 12.28, a P/E/G ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the company posted $0.63 EPS. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.19%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is presently 63.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Profile

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.