Alerus Financial NA Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Alerus Financial NA trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,641 shares of the technology company's stock after selling 11,508 shares during the quarter. AT&T accounts for approximately 0.7% of Alerus Financial NA's holdings, making the stock its 28th biggest holding. Alerus Financial NA's holdings in AT&T were worth $9,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P lifted its holdings in AT&T by 908.3% in the third quarter. Loomis Sayles & Co. L P now owns 42,309 shares of the technology company's stock worth $931,000 after buying an additional 38,113 shares during the period. Townsquare Capital LLC grew its stake in AT&T by 1.1% in the third quarter. Townsquare Capital LLC now owns 546,710 shares of the technology company's stock worth $12,028,000 after purchasing an additional 6,071 shares during the period. Bridgewater Associates LP raised its holdings in AT&T by 38.1% in the third quarter. Bridgewater Associates LP now owns 1,289,648 shares of the technology company's stock worth $28,372,000 after purchasing an additional 355,527 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in AT&T by 9.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,174,000 shares of the technology company's stock valued at $47,828,000 after buying an additional 184,900 shares during the period. Finally, CreativeOne Wealth LLC grew its position in shares of AT&T by 34.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 148,740 shares of the technology company's stock worth $3,272,000 after buying an additional 38,444 shares during the period. 57.10% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. Finally, Argus raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $26.79.

AT&T Trading Down 0.0 %

Shares of T traded down $0.00 during trading hours on Friday, reaching $28.20. 35,072,594 shares of the company traded hands, compared to its average volume of 36,189,161. The firm has a market cap of $202.40 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.00 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $28.51. The stock's fifty day moving average price is $25.70 and its 200 day moving average price is $23.53.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.94%. AT&T's payout ratio is currently 74.50%.

About AT&T

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.