AT&T Inc. (NYSE:T) Shares Sold by First United Bank Trust

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First United Bank Trust lowered its position in shares of AT&T Inc. (NYSE:T) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,449 shares of the technology company’s stock after selling 973 shares during the quarter. First United Bank Trust’s holdings in AT&T were worth $698,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ancora Advisors LLC raised its holdings in shares of AT&T by 1.3% during the second quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock valued at $11,776,000 after acquiring an additional 4,370 shares during the last quarter. Kavar Capital Partners LLC grew its position in shares of AT&T by 3.0% in the second quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 2,914 shares in the last quarter. Investment Partners LTD. grew its position in shares of AT&T by 36.5% in the second quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 8,892 shares in the last quarter. JGP Wealth Management LLC grew its position in shares of AT&T by 2.7% in the second quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after purchasing an additional 3,373 shares in the last quarter. Finally, Marco Investment Management LLC grew its position in shares of AT&T by 16.2% in the second quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock valued at $2,099,000 after purchasing an additional 8,734 shares in the last quarter. 53.02% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the company. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target for the company in a research report on Thursday, July 25th. Morgan Stanley set a $37.00 price target on AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James restated an “outperform” rating and issued a $40.00 price target (up from $35.00) on shares of AT&T in a research report on Monday, October 7th. Barclays upped their price target on AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. Finally, Desjardins restated an “average” rating and issued a $55.50 price target on shares of AT&T in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. AT&T presently has a consensus rating of “Buy” and a consensus price target of $38.43.

In related news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the transaction, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

T stock opened at $37.58 on Friday. The firm has a market capitalization of $274.60 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $38.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $36.72 and a 200-day simple moving average of $33.57.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 3.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.51 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.43%. AT&T’s payout ratio is 57.95%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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