First National Bank & Trust Co. of Newtown Buys 924 Shares of AT&T Inc. (NYSE:T)

First National Bank & Trust Co. of Newtown boosted its holdings in AT&T Inc. (NYSE:T) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,437 shares of the technology company’s stock after purchasing an additional 924 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in AT&T were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in AT&T in the fourth quarter valued at $1,858,418,000. GQG Partners LLC lifted its stake in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company’s stock worth $1,085,034,000 after buying an additional 7,347,354 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on T. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. UBS Group reiterated a “buy” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Royal Bank Of Canada lifted their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Bank of America initiated coverage on shares of AT&T in a research note on Monday. They issued a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.05.

AT&T Price Performance

Shares of AT&T stock opened at $28.30 on Wednesday. The business’s fifty day moving average price is $27.83 and its 200 day moving average price is $26.23. The stock has a market capitalization of $203.64 billion, a P/E ratio of 17.36, a PEG ratio of 4.67 and a beta of 0.42. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period last year, the company posted $0.55 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

AT&T 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.