First Interstate Bank Has $474,000 Stock Position in AT&T Inc. (NYSE:T)

First Interstate Bank reduced its position in AT&T Inc. (NYSE:T) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,242 shares of the technology company’s stock after selling 1,498 shares during the period. First Interstate Bank’s holdings in AT&T were worth $474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carmel Capital Partners LLC grew its stake in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton acquired a new stake in shares of AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the third quarter worth $30,000. FWL Investment Management LLC acquired a new stake in shares of AT&T during the fourth quarter worth $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T during the fourth quarter worth $34,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on T shares. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Stock Down 0.9 %

T traded down $0.15 on Tuesday, hitting $16.09. 49,169,633 shares of the company were exchanged, compared to its average volume of 38,659,406. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.92. The company has a market cap of $115.09 billion, a PE ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The stock’s fifty day moving average is $17.07 and its 200-day moving average is $16.48.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.90%. AT&T’s payout ratio is presently 56.63%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.