AT&T Inc. (NYSE:T) Shares Sold by Webster Bank N. A.

Webster Bank N. A. lessened its stake in shares of AT&T Inc. (NYSE:T) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,338 shares of the technology company’s stock after selling 4,590 shares during the quarter. Webster Bank N. A.’s holdings in AT&T were worth $777,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quarry LP increased its stake in shares of AT&T by 137.1% during the fourth quarter. Quarry LP now owns 6,649 shares of the technology company’s stock worth $112,000 after acquiring an additional 3,845 shares during the period. Wellington Wealth Strategies LLC. purchased a new position in AT&T in the 4th quarter valued at approximately $172,000. Able Wealth Management LLC purchased a new stake in AT&T during the fourth quarter worth $58,000. Novak & Powell Financial Services Inc. acquired a new stake in AT&T in the fourth quarter valued at $191,000. Finally, Sierra Summit Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth $338,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE:T traded up $0.15 during trading hours on Friday, hitting $21.37. The company’s stock had a trading volume of 25,249,822 shares, compared to its average volume of 35,699,320. The stock has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $18.83. AT&T Inc. has a twelve month low of $14.23 and a twelve month high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market capitalization of $153.23 billion, a P/E ratio of 12.28, a PEG ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 63.79%.

Analysts Set New Price Targets

T has been the topic of a number of analyst reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Barclays increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.38.

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.