First County Bank CT Sells 2,987 Shares of AT&T Inc. (NYSE:T)

First County Bank CT lessened its holdings in shares of AT&T Inc. (NYSE:T) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,312 shares of the technology company’s stock after selling 2,987 shares during the quarter. First County Bank CT’s holdings in AT&T were worth $1,593,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AT&T during the 4th quarter valued at about $1,858,418,000. GQG Partners LLC grew its holdings in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Northern Trust Corp raised its holdings in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of AT&T by 4,986.1% during the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock worth $225,741,000 after acquiring an additional 9,719,036 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of several research reports. BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target on the stock in a research report on Thursday, February 13th. Evercore ISI boosted their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Oppenheimer upped their price objective on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Trading Down 0.5%

NYSE T opened at $27.38 on Friday. The stock has a market cap of $196.98 billion, a PE ratio of 18.37, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $17.16 and a 12 month high of $29.03. The company’s 50-day moving average price is $27.35 and its 200-day moving average price is $25.23. 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 (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities research 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 was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.05%. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

AT&T Company 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.