Washington Trust Bank Sells 1,083 Shares of AT&T Inc. (NYSE:T)

Washington Trust Bank lowered its holdings in AT&T Inc. (NYSE:T) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,995 shares of the technology company’s stock after selling 1,083 shares during the period. Washington Trust Bank’s holdings in AT&T were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Segall Bryant & Hamill LLC acquired a new position in shares of AT&T in the 3rd quarter valued at approximately $1,030,000. Intech Investment Management LLC raised its position in shares of AT&T by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 290,672 shares of the technology company’s stock valued at $6,395,000 after buying an additional 5,469 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of AT&T by 30.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 832,999 shares of the technology company’s stock valued at $18,609,000 after buying an additional 195,314 shares in the last quarter. CFS Investment Advisory Services LLC raised its position in shares of AT&T by 6.1% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 22,588 shares of the technology company’s stock valued at $497,000 after buying an additional 1,304 shares in the last quarter. Finally, Allen Capital Group LLC raised its position in shares of AT&T by 20.8% in the 3rd quarter. Allen Capital Group LLC now owns 20,643 shares of the technology company’s stock valued at $454,000 after buying an additional 3,549 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. DZ Bank upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, January 29th. Sanford C. Bernstein upped their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price objective on shares of AT&T from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

AT&T Trading Up 0.9 %

NYSE:T opened at $27.04 on Friday. The firm’s fifty day moving average is $25.13 and its 200-day moving average is $23.30. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The firm has a market cap of $194.06 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share 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.