Washington Trust Bank Has $1.59 Million Holdings in AT&T Inc. (NYSE:T)

Washington Trust Bank raised its holdings in shares of AT&T Inc. (NYSE:T) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,576 shares of the technology company’s stock after purchasing an additional 7,330 shares during the period. Washington Trust Bank’s holdings in AT&T were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lion Street Advisors LLC acquired a new position in AT&T during the 1st quarter valued at about $27,000. Horan Securities Inc. acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $28,000. CBIZ Investment Advisory Services LLC raised its position in shares of AT&T by 186.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after acquiring an additional 623 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $34,000. Finally, Efficient Wealth Management LLC acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $35,000. Institutional investors own 53.74% of the company’s stock.

In other news, Director Stephen J. Luczo bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by company insiders.

A number of analysts recently weighed in on T shares. Cfra cut their price target on shares of AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Nomura cut their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Oppenheimer cut their price target on shares of AT&T from $47.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Bank of America reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a research note on Friday, July 24th. Finally, Morgan Stanley lowered their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.29.

Shares of NYSE:T traded up $0.01 during midday trading on Friday, hitting $29.58. The stock had a trading volume of 38,694,208 shares, compared to its average volume of 32,539,284. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $30.01 and its 200-day simple moving average is $32.47. The company has a market cap of $212.40 billion, a P/E ratio of 18.15, a PEG ratio of 1.67 and a beta of 0.72.

AT&T (NYSE:T) last released its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The business had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, equities analysts predict that AT&T Inc. will post 3.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.08 annualized dividend and a dividend yield of 7.03%. AT&T’s dividend payout ratio is presently 58.26%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Read More: What can cause a stock to outperform?

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.