Plimoth Trust Co. LLC Increases Stock Holdings in AT&T Inc. (NYSE:T)

Plimoth Trust Co. LLC increased its position in shares of AT&T Inc. (NYSE:T) by 1.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 153,077 shares of the technology company’s stock after purchasing an additional 2,354 shares during the quarter. Plimoth Trust Co. LLC’s holdings in AT&T were worth $3,486,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at $14,700,000. Swiss National Bank grew its stake in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of 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 in the last quarter. Caprock Group LLC grew its stake in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after buying an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC acquired a new stake in shares of AT&T in the third quarter valued at $7,438,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, Citigroup upped their price objective on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.11.

AT&T Price Performance

NYSE T traded up $0.27 during trading hours on Wednesday, reaching $24.67. 6,247,866 shares of the company’s stock were exchanged, compared to its average volume of 37,399,512. The firm has a fifty day moving average of $22.86 and a 200-day moving average of $21.55. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. 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 $176.98 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59.

AT&T (NYSE:T) last released its 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 7.42%. On average, equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.50%. AT&T’s payout ratio is presently 90.24%.

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.