First National Trust Co Cuts Stock Holdings in AT&T Inc. (NYSE:T)

First National Trust Co cut its position in shares of AT&T Inc. (NYSE:T) by 31.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,631 shares of the technology company’s stock after selling 34,536 shares during the period. First National Trust Co’s holdings in AT&T were worth $1,252,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Royal Fund Management LLC grew its holdings in AT&T by 1.1% in the fourth quarter. Royal Fund Management LLC now owns 182,783 shares of the technology company’s stock valued at $3,067,000 after purchasing an additional 2,053 shares during the period. AJOVista LLC purchased a new position in shares of AT&T during the 4th quarter valued at approximately $175,000. Provence Wealth Management Group grew its stake in AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after acquiring an additional 5,807 shares during the period. Legacy Financial Advisors Inc. increased its holdings in AT&T by 21.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 26,920 shares of the technology company’s stock worth $452,000 after acquiring an additional 4,766 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in AT&T during the fourth quarter worth $712,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. Wolfe Research raised shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Trading Up 0.2 %

Shares of T traded up $0.03 during mid-day trading on Friday, reaching $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The firm has a market cap of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57. The business’s fifty day moving average is $16.97 and its 200 day moving average is $16.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s dividend payout ratio is currently 59.68%.

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.