First United Bank & Trust Reduces Holdings in AT&T Inc. $T

First United Bank & Trust decreased its position in shares of AT&T Inc. (NYSE:T) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,355 shares of the technology company’s stock after selling 720 shares during the quarter. First United Bank & Trust’s holdings in AT&T were worth $242,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Union Bancaire Privee UBP SA grew its holdings in shares of AT&T by 990.0% during the second quarter. Union Bancaire Privee UBP SA now owns 147,646 shares of the technology company’s stock worth $4,273,000 after purchasing an additional 134,100 shares during the last quarter. Chicago Capital LLC grew its holdings in shares of AT&T by 1.1% during the second quarter. Chicago Capital LLC now owns 36,012 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 407 shares during the last quarter. Spectrum Strategic Capital Management LLC purchased a new position in shares of AT&T during the second quarter worth about $2,340,000. BFI Infinity Ltd. boosted its stake in shares of AT&T by 10.8% during the second quarter. BFI Infinity Ltd. now owns 8,167 shares of the technology company’s stock worth $236,000 after buying an additional 799 shares during the period. Finally, Mattern Wealth Management LLC boosted its stake in shares of AT&T by 1.7% during the second quarter. Mattern Wealth Management LLC now owns 30,099 shares of the technology company’s stock worth $871,000 after buying an additional 506 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Stock Down 0.8%

T stock opened at $28.07 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $28.62 and its 200 day moving average price is $27.91. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a market cap of $200.71 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. On average, research analysts expect 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 Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T’s dividend payout ratio is 63.07%.

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.