AT&T Inc. (NYSE:T) Position Trimmed by WASHINGTON TRUST Co

WASHINGTON TRUST Co lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 45.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,314 shares of the technology company's stock after selling 88,257 shares during the period. WASHINGTON TRUST Co's holdings in AT&T were worth $3,007,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Capital A Wealth Management LLC purchased a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T in the fourth quarter valued at $27,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of AT&T in the fourth quarter valued at $30,000. Finally, REAP Financial Group LLC boosted its position in shares of AT&T by 115.2% in the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock worth $31,000 after buying an additional 727 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Oppenheimer raised their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Barclays boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.90.

AT&T Price Performance

Shares of AT&T stock opened at $28.08 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $27.63 and a 200-day simple moving average of $25.97. The stock has a market capitalization of $202.02 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 3.98 and a beta of 0.41. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.03.

AT&T (NYSE:T - Get Free Report) last released its 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 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the firm earned $0.55 EPS. The firm's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T's payout ratio is 68.10%.

AT&T Company Profile

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.

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