First County Bank CT Lowers Holdings in AT&T Inc. (NYSE:T)

First County Bank CT lowered its position in shares of AT&T Inc. (NYSE:T) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,299 shares of the technology company’s stock after selling 5,702 shares during the quarter. First County Bank CT’s holdings in AT&T were worth $1,350,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the 2nd quarter worth about $30,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of AT&T in the third quarter valued at about $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T traded down $0.24 during midday trading on Tuesday, hitting $22.36. 19,577,429 shares of the stock traded hands, compared to its average volume of 26,729,541. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The business’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $21.14. The firm has a market capitalization of $160.44 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping 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 business 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 firm posted $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Citigroup boosted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Barclays upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Company 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.