First Bank & Trust Lowers Position in AT&T Inc. (NYSE:T)

First Bank & Trust decreased its stake in shares of AT&T Inc. (NYSE:T) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,159 shares of the technology company’s stock after selling 11,458 shares during the period. AT&T comprises about 0.8% of First Bank & Trust’s holdings, making the stock its 27th largest position. First Bank & Trust’s holdings in AT&T were worth $3,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of T. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the period. GQG Partners LLC increased its stake in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. Finally, Northern Trust Corp lifted its stake in AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.2%

T stock opened at $28.88 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $27.72 and a 200-day simple moving average of $26.03. The stock has a market capitalization of $207.81 billion, a P/E ratio of 17.72, a P/E/G ratio of 4.11 and a beta of 0.42. AT&T Inc. has a 52 week low of $18.14 and a 52 week high of $29.19.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is currently 68.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI boosted their target price on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, April 24th. TD Securities upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Barclays upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada boosted their target price on shares of AT&T from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $28.90.

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.