FARMERS & MERCHANTS TRUST Co OF LONG BEACH Raises Position in AT&T Inc. (NYSE:T)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of AT&T Inc. (NYSE:T) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,605 shares of the technology company’s stock after purchasing an additional 1,453 shares during the quarter. AT&T comprises about 0.9% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 28th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in AT&T were worth $2,104,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gables Capital Management Inc. grew its stake in shares of AT&T by 0.9% during the 2nd quarter. Gables Capital Management Inc. now owns 65,860 shares of the technology company’s stock valued at $1,991,000 after buying an additional 575 shares during the period. BHK Investment Advisors LLC raised its holdings in shares of AT&T by 2.6% in the 2nd quarter. BHK Investment Advisors LLC now owns 38,531 shares of the technology company’s stock worth $1,165,000 after purchasing an additional 979 shares during the period. Magnolia Capital Advisors LLC lifted its stake in shares of AT&T by 3.3% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 30,370 shares of the technology company’s stock valued at $918,000 after purchasing an additional 974 shares in the last quarter. Kendall Capital Management grew its holdings in shares of AT&T by 192.4% during the 2nd quarter. Kendall Capital Management now owns 28,175 shares of the technology company’s stock worth $852,000 after purchasing an additional 18,540 shares during the period. Finally, Avitas Wealth Management LLC increased its position in AT&T by 37.7% during the 2nd quarter. Avitas Wealth Management LLC now owns 154,885 shares of the technology company’s stock worth $4,682,000 after purchasing an additional 42,429 shares in the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

T stock traded up $0.01 during trading hours on Friday, hitting $29.58. 38,694,208 shares of the stock traded hands, compared to its average volume of 32,539,284. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The stock has a 50-day simple moving average of $30.01 and a 200 day simple moving average of $32.47. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The company has a market cap of $212.48 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72.

AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 3.21 earnings per share for the current year.

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

In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, with a total value of $2,969,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

Several equities analysts recently weighed in on T shares. DZ Bank lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $26.00 target price on the stock. in a report on Friday, April 24th. Barclays reaffirmed a “hold” rating and set a $33.00 price target on shares of AT&T in a research note on Friday, April 17th. Royal Bank of Canada dropped their target price on AT&T from $38.00 to $32.00 in a research report on Friday, July 24th. Credit Suisse Group lowered their price objective on AT&T from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Finally, Morgan Stanley reduced 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 given a hold rating and eleven have assigned a buy rating to the company. AT&T has a consensus rating of “Hold” and an average price target of $35.29.

About AT&T

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.

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

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