American National Bank & Trust Sells 11,564 Shares of AT&T Inc. (NYSE:T)

American National Bank & Trust reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,522 shares of the technology company's stock after selling 11,564 shares during the quarter. American National Bank & Trust's holdings in AT&T were worth $891,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after acquiring an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC boosted its position in AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC raised its holdings in shares of AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after buying an additional 26,280,866 shares during the period. Bank of New York Mellon Corp increased its stake in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock worth $1,948,943,000 after buying an additional 5,649,277 shares during the period. Finally, Norges Bank purchased a new position in AT&T in the fourth quarter valued at about $1,858,418,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, April 24th. TD Securities increased their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. BNP Paribas raised AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a research report on Thursday, February 13th. Scotiabank reissued an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Finally, Royal Bank of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Trading Down 0.9%

NYSE T traded down $0.25 on Wednesday, reaching $27.71. The company had a trading volume of 11,177,861 shares, compared to its average volume of 39,933,262. The stock has a market cap of $199.39 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 3.00 and a beta of 0.41. The stock's 50 day moving average is $27.36 and its 200-day moving average is $25.37. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $17.42 and a 52 week high of $29.03.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.01%. AT&T's dividend payout ratio (DPR) is currently 68.10%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.