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

First National Trust Co decreased its stake in AT&T Inc. (NYSE:T) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,456 shares of the technology company’s stock after selling 909 shares during the quarter. First National Trust Co’s holdings in AT&T were worth $2,122,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC boosted its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd purchased a new stake in AT&T during the 2nd quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on T shares. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 0.7 %

Shares of NYSE:T opened at $22.15 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $21.75 and its 200 day moving average is $19.60. The stock has a market cap of $158.93 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.51 and a 52-week high of $22.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.01%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

AT&T Profile

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.