First United Bank & Trust Sells 668 Shares of AT&T Inc. (NYSE:T)

First United Bank & Trust trimmed its stake in AT&T Inc. (NYSE:T) by 6.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,805 shares of the technology company’s stock after selling 668 shares during the quarter. First United Bank & Trust’s holdings in AT&T were worth $216,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in T. Hayek Kallen Investment Management grew its stake in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC lifted its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the last quarter. Finally, Integral Investment Advisors Inc. lifted its holdings in AT&T by 3.2% during the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on T. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Performance

NYSE T opened at $21.70 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $20.86 and its two-hundred day moving average is $18.91. AT&T Inc. has a 12-month low of $14.28 and a 12-month high of $22.34. The stock has a market capitalization of $155.59 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

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.