Farmers Trust Co. Has $7.72 Million Stock Holdings in AT&T Inc. (NYSE:T)

Farmers Trust Co. cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272,882 shares of the technology company's stock after selling 13,657 shares during the quarter. AT&T accounts for 1.5% of Farmers Trust Co.'s portfolio, making the stock its 15th largest position. Farmers Trust Co.'s holdings in AT&T were worth $7,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in T. Vanguard Group Inc. lifted its position in AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AT&T by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after acquiring an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its position in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company's stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on T shares. Evercore ISI raised their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Citigroup restated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Finally, Barclays lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Performance

T stock traded up $0.35 on Friday, reaching $27.73. 47,953,734 shares of the company were exchanged, compared to its average volume of 36,897,849. The firm has a market capitalization of $199.53 billion, a PE ratio of 18.61, a PEG ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 12 month low of $17.42 and a 12 month high of $29.03. The stock's fifty day moving average price is $27.36 and its 200 day moving average price is $25.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio (DPR) is presently 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.