Sanibel Captiva Trust Company Inc. Buys 17,154 Shares of AT&T Inc. (NYSE:T)

Sanibel Captiva Trust Company Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,620 shares of the technology company's stock after buying an additional 17,154 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in AT&T were worth $2,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in AT&T by 2.8% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 44,162 shares of the technology company's stock worth $1,006,000 after buying an additional 1,213 shares during the period. Brooklyn Investment Group increased its holdings in shares of AT&T by 2.8% in the 4th quarter. Brooklyn Investment Group now owns 55,522 shares of the technology company's stock worth $1,264,000 after acquiring an additional 1,513 shares during the period. Albert D Mason Inc. increased its holdings in shares of AT&T by 5.2% in the 4th quarter. Albert D Mason Inc. now owns 35,484 shares of the technology company's stock worth $808,000 after acquiring an additional 1,747 shares during the period. Sax Wealth Advisors LLC lifted its position in AT&T by 3.4% in the 4th quarter. Sax Wealth Advisors LLC now owns 35,312 shares of the technology company's stock valued at $804,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Somerset Trust Co boosted its stake in AT&T by 5.8% during the 4th quarter. Somerset Trust Co now owns 57,350 shares of the technology company's stock valued at $1,306,000 after purchasing an additional 3,127 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. New Street Research raised shares of AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. 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. Finally, Royal Bank of Canada upgraded shares of AT&T from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $22.00 to $26.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.83.

AT&T Stock Up 1.2 %

NYSE T traded up $0.28 during trading on Friday, reaching $22.30. The company's stock had a trading volume of 33,632,584 shares, compared to its average volume of 28,784,102. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $159.97 billion, a PE ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The business has a 50-day moving average price of $22.79 and a 200-day moving average price of $21.33.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T's dividend payout ratio (DPR) is 90.24%.

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.