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

First Interstate Bank reduced its position in AT&T Inc. (NYSE:T) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,242 shares of the technology company’s stock after selling 1,498 shares during the period. First Interstate Bank’s holdings in AT&T were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after buying an additional 1,567,008 shares during the period. Newport Trust Company LLC raised its holdings in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after buying an additional 673,043 shares during the period. Morgan Stanley raised its holdings in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after buying an additional 76,746,649 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after buying an additional 1,828,237 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on T. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Price Performance

T stock traded down $0.15 during trading hours on Tuesday, hitting $16.09. 49,169,633 shares of the stock traded hands, compared to its average volume of 38,659,406. The stock has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $16.48. AT&T Inc. has a one year low of $13.43 and a one year high of $19.92. The company has a market cap of $115.09 billion, a P/E ratio of 8.16, a P/E/G ratio of 2.46 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.90%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

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.