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

Plimoth Trust Co. LLC lifted its position in AT&T Inc. (NYSE:T) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,077 shares of the technology company’s stock after buying 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 and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in AT&T during the second quarter valued at approximately $44,000. Scientech Research LLC bought a new position in AT&T during the second quarter valued at approximately $219,000. Driehaus Capital Management LLC bought a new position in AT&T during the second quarter valued at approximately $237,000. NewEdge Advisors LLC grew its position in AT&T by 7.2% during the second quarter. NewEdge Advisors LLC now owns 473,303 shares of the technology company’s stock valued at $9,045,000 after acquiring an additional 31,661 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in AT&T by 2.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 700,577 shares of the technology company’s stock valued at $13,388,000 after acquiring an additional 18,869 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on T shares. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Barclays upped their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup raised their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Stock Performance

Shares of NYSE T traded up $0.27 during midday trading on Wednesday, reaching $24.67. The company had a trading volume of 6,247,866 shares, compared to its average volume of 37,399,512. The business’s 50-day simple moving average is $22.86 and its 200 day simple moving average is $21.55. The stock has a market cap of $176.98 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 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.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, analysts forecast that AT&T Inc. will post 2.21 earnings per share 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 given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.50%. AT&T’s dividend 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.