First American Trust FSB Reduces Stock Position in AT&T Inc. (NYSE:T)

First American Trust FSB cut its stake in AT&T Inc. (NYSE:T) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,605 shares of the technology company’s stock after selling 2,079 shares during the period. First American Trust FSB’s holdings in AT&T were worth $6,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its holdings in AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock valued at $1,543,169,000 after acquiring an additional 43,525,113 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock valued at $18,879,489,000 after acquiring an additional 6,744,699 shares during the last quarter. Morgan Stanley lifted its holdings in AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock valued at $1,979,052,000 after acquiring an additional 5,931,167 shares during the last quarter. Nordea Investment Management AB lifted its holdings in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares during the last quarter. Finally, Covenant Multifamily Offices LLC acquired a new position in AT&T in the second quarter valued at approximately $81,364,000. Institutional investors and hedge funds own 53.02% of the company’s stock.

A number of research firms recently commented on T. Desjardins reiterated an “average” rating and issued a $55.50 price objective on shares of AT&T in a report on Tuesday, August 6th. Bank of America restated a “buy” rating on shares of AT&T in a research note on Monday, September 9th. Cowen set a $40.00 price target on AT&T and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. set a $39.00 price target on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Raymond James restated an “outperform” rating and set a $40.00 price target (up from $35.00) on shares of AT&T in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.43.

NYSE:T traded up $0.44 during trading hours on Thursday, reaching $37.49. 12,462,206 shares of the stock were exchanged, compared to its average volume of 33,945,016. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $36.62 and a two-hundred day moving average of $33.50. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $38.75. The company has a market capitalization of $273.75 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.37 and a beta of 0.63.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s payout ratio is currently 57.95%.

In other news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

About AT&T

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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