Members Trust Co Sells 880 Shares of AT&T Inc. (NYSE:T)

Members Trust Co trimmed its holdings in AT&T Inc. (NYSE:T) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,461 shares of the technology company’s stock after selling 880 shares during the quarter. Members Trust Co’s holdings in AT&T were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of T. Vanguard Group Inc. increased its position in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares in the last quarter. Finally, LSV Asset Management lifted its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T traded up $0.26 during mid-day trading on Tuesday, hitting $21.52. The stock had a trading volume of 23,765,951 shares, compared to its average volume of 35,628,422. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 52 week low of $14.23 and a 52 week high of $22.34. The firm has a market cap of $154.30 billion, a P/E ratio of 11.57, a PEG ratio of 3.62 and a beta of 0.60. The business has a fifty day moving average price of $20.76 and a 200-day moving average price of $18.86.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.16%. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

Several research firms have weighed in on T. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.69.

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.