City Holding Co. Acquires 3,851 Shares of AT&T Inc. (NYSE:T)

City Holding Co. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,567 shares of the technology company’s stock after purchasing an additional 3,851 shares during the period. City Holding Co.’s holdings in AT&T were worth $977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Oppenheimer lifted their target price on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. TD Securities lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, April 24th. Finally, Scotiabank reiterated an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.71.

AT&T Stock Performance

Shares of AT&T stock opened at $27.88 on Tuesday. The firm has a fifty day moving average of $27.32 and a two-hundred day moving average of $25.52. The stock has a market capitalization of $200.58 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.00 and a beta of 0.41. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

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.