City State Bank Buys 1,148 Shares of AT&T Inc. (NYSE:T)

City State Bank raised its position in shares of AT&T Inc. (NYSE:T) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,543 shares of the technology company’s stock after purchasing an additional 1,148 shares during the period. City State Bank’s holdings in AT&T were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Chesapeake Wealth Management boosted its stake in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC increased its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in shares of AT&T by 1.4% during the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares during the period. Essex Savings Bank grew its stake in AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management increased its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Oppenheimer began coverage on AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price for the company. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Performance

NYSE T traded down $0.18 on Monday, reaching $21.51. 6,215,890 shares of the company’s stock traded hands, compared to its average volume of 29,668,824. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 3.60 and a beta of 0.59. The stock has a 50 day moving average price of $22.81 and a 200-day moving average price of $21.24.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.