Coastline Trust Co Reduces Stock Position in AT&T Inc. (NYSE:T)

Coastline Trust Co cut its position in shares of AT&T Inc. (NYSE:T) by 95.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,823 shares of the technology company’s stock after selling 35,000 shares during the quarter. Coastline Trust Co’s holdings in AT&T were worth $40,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% in the second 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. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth $35,000. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the 2nd quarter worth $30,000. Finally, Marquette Asset Management LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $22.68 on Monday. The company has a market capitalization of $162.74 billion, a P/E ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59. The company has a 50-day moving average of $21.89 and a 200-day moving average of $19.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1-year low of $15.75 and a 1-year high of $22.75.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

A number of research analysts have weighed in on T shares. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.