AT&T Inc. $T Shares Sold by First Bancorp Inc ME

First Bancorp Inc ME cut its stake in AT&T Inc. (NYSE:T) by 7.3% in the second quarter, Holdings Channel reports. The firm owned 27,997 shares of the technology company’s stock after selling 2,200 shares during the period. First Bancorp Inc ME’s holdings in AT&T were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in AT&T in the second quarter valued at about $5,266,758,000. GQG Partners LLC lifted its position in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.65.

AT&T Trading Up 0.5%

NYSE:T opened at $26.33 on Friday. The stock has a market cap of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock’s 50-day moving average is $28.27 and its two-hundred day moving average is $27.81.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. AT&T’s payout ratio is currently 63.07%.

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.