First Financial Bank Trust Division reduced its stake in AT&T Inc. (NYSE:T) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,324 shares of the technology company’s stock after selling 10,710 shares during the period. First Financial Bank Trust Division’s holdings in AT&T were worth $7,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Curi Capital purchased a new stake in AT&T in the fourth quarter worth approximately $25,000. Flagship Private Wealth LLC purchased a new stake in AT&T during the 4th quarter valued at $27,000. BNC Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at $27,000. Clear Perspectives Financial Planning LLC purchased a new position in shares of AT&T in the 4th quarter worth $29,000. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of AT&T in the fourth quarter worth $31,000. 51.17% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:T traded down $0.67 during trading on Thursday, reaching $30.26. The company’s stock had a trading volume of 350,756 shares, compared to its average volume of 44,308,855. The firm’s 50 day simple moving average is $29.64 and its two-hundred day simple moving average is $28.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.78. AT&T Inc. has a 12 month low of $26.35 and a 12 month high of $33.24. The stock has a market capitalization of $215.81 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70.

AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The company had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. AT&T’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 3.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, April 8th. AT&T’s dividend payout ratio (DPR) is currently 58.26%.

A number of equities research analysts have issued reports on T shares. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating and set a $33.00 price target for the company in a research note on Thursday, December 10th. Morgan Stanley lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $36.00 to $34.00 in a research report on Thursday, December 17th. Raymond James reiterated a “buy” rating on shares of AT&T in a research report on Monday, March 15th. CIBC reissued a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on AT&T from $36.00 to $31.00 in a research report on Monday, February 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.47.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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