City State Bank Sells 450 Shares of AT&T Inc. $T

City State Bank lessened its position in AT&T Inc. (NYSE:T) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,895 shares of the technology company’s stock after selling 450 shares during the period. City State Bank’s holdings in AT&T were worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC lifted its holdings in shares of AT&T by 19.5% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 158,616 shares of the technology company’s stock worth $4,586,000 after acquiring an additional 25,902 shares during the last quarter. Fielder Capital Group LLC grew its holdings in shares of AT&T by 10.5% in the second quarter. Fielder Capital Group LLC now owns 8,128 shares of the technology company’s stock worth $235,000 after purchasing an additional 772 shares during the last quarter. Curio Wealth LLC grew its holdings in shares of AT&T by 26,100.0% in the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Leelyn Smith LLC grew its holdings in shares of AT&T by 22.9% in the second quarter. Leelyn Smith LLC now owns 31,049 shares of the technology company’s stock worth $899,000 after purchasing an additional 5,776 shares during the last quarter. Finally, Hobart Private Capital LLC grew its holdings in shares of AT&T by 67.8% in the second quarter. Hobart Private Capital LLC now owns 18,361 shares of the technology company’s stock worth $531,000 after purchasing an additional 7,418 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.2%

Shares of AT&T stock opened at $25.17 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.76. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm’s 50-day moving average is $27.97 and its two-hundred day moving average is $27.75. The stock has a market cap of $179.95 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.99 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T’s payout ratio is presently 63.07%.

Analysts Set New Price Targets

A number of research firms have recently commented on T. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday. Barclays cut their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.