United Community Bank Has $153,000 Stock Position in AT&T Inc. (NYSE:T)

United Community Bank lessened its holdings in AT&T Inc. (NYSE:T) by 84.8% in the 1st quarter, Holdings Channel reports. The firm owned 8,705 shares of the technology company’s stock after selling 48,454 shares during the quarter. United Community Bank’s holdings in AT&T were worth $153,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of T. Central Pacific Bank Trust Division acquired a new position in AT&T during the first quarter valued at approximately $165,000. Mutual Advisors LLC grew its stake in AT&T by 11.1% in the 1st quarter. Mutual Advisors LLC now owns 300,390 shares of the technology company’s stock valued at $5,287,000 after buying an additional 30,101 shares during the last quarter. Diversified LLC raised its holdings in AT&T by 20.4% in the 1st quarter. Diversified LLC now owns 15,505 shares of the technology company’s stock worth $273,000 after acquiring an additional 2,628 shares during the period. Salomon & Ludwin LLC lifted its position in AT&T by 28.2% during the 1st quarter. Salomon & Ludwin LLC now owns 15,478 shares of the technology company’s stock worth $272,000 after acquiring an additional 3,403 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in AT&T by 620.3% during the first quarter. Jennison Associates LLC now owns 3,919,092 shares of the technology company’s stock valued at $68,976,000 after acquiring an additional 3,375,009 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

T has been the subject of several research analyst reports. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research report on Wednesday. Scotiabank lifted their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Finally, UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $21.81.

AT&T Stock Down 1.3 %

Shares of NYSE:T traded down $0.24 during trading on Wednesday, hitting $18.56. 6,382,250 shares of the company’s stock traded hands, compared to its average volume of 36,270,723. The company has a 50-day moving average price of $17.87 and a 200-day moving average price of $17.29. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The company has a market cap of $133.08 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.23 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.98%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

AT&T Company Profile

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.