AT&T Inc. (NYSE:T) Shares Sold by First County Bank CT

First County Bank CT trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,299 shares of the technology company’s stock after selling 5,702 shares during the period. First County Bank CT’s holdings in AT&T were worth $1,350,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC boosted its stake in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T in the third quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of AT&T during the second quarter valued at $30,000. Finally, Reston Wealth Management LLC acquired a new position in AT&T during the third quarter valued at $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T traded down $0.24 during midday trading on Tuesday, reaching $22.36. 19,577,429 shares of the company traded hands, compared to its average volume of 26,729,541. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock’s 50-day simple moving average is $22.83 and its 200-day simple moving average is $21.14. The firm has a market cap of $160.44 billion, a PE ratio of 18.18, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.96%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

Several research firms recently commented on T. Sanford C. Bernstein began coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $26.00 in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.76.

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.