Sanibel Captiva Trust Company Inc. Has $2.25 Million Position in AT&T Inc. (NYSE:T)

Sanibel Captiva Trust Company Inc. increased its holdings in shares of AT&T Inc. (NYSE:T) by 21.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,620 shares of the technology company’s stock after buying an additional 17,154 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in AT&T were worth $2,246,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in T. AQR Capital Management LLC increased its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the period. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of AT&T by 110.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after buying an additional 3,228,888 shares during the period. Public Sector Pension Investment Board raised its stake in AT&T by 1,901.0% during the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after buying an additional 3,008,549 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after buying an additional 2,326,904 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on T. Wells Fargo & Company dropped their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, UBS Group lifted their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Price Performance

Shares of NYSE:T opened at $22.30 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $159.97 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The stock’s fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $21.31. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s payout ratio 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.