AT&T Inc. (NYSE:T) Shares Sold by Ledyard National Bank

Ledyard National Bank cut its stake in shares of AT&T Inc. (NYSE:T) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 227,683 shares of the technology company’s stock after selling 4,481 shares during the quarter. Ledyard National Bank’s holdings in AT&T were worth $6,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its stake in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Wealthspire Advisors LLC grew its stake in AT&T by 1.0% in the 4th quarter. Wealthspire Advisors LLC now owns 110,180 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 1,130 shares during the last quarter. MONECO Advisors LLC grew its stake in AT&T by 46.0% in the 4th quarter. MONECO Advisors LLC now owns 64,407 shares of the technology company’s stock valued at $1,467,000 after acquiring an additional 20,285 shares during the last quarter. World Equity Group Inc. grew its stake in AT&T by 11.3% in the 4th quarter. World Equity Group Inc. now owns 11,525 shares of the technology company’s stock valued at $262,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in AT&T in the 4th quarter valued at about $1,639,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Royal Bank Of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Tigress Financial raised their price target on shares of AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $28.76.

AT&T Trading Up 1.7%

NYSE T opened at $28.23 on Tuesday. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03. The company’s 50 day moving average price is $27.55 and its 200 day moving average price is $25.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The firm has a market capitalization of $203.13 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.41.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

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.