First Bank & Trust Sells 11,458 Shares of AT&T Inc. (NYSE:T)

First Bank & Trust cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,159 shares of the technology company's stock after selling 11,458 shares during the quarter. AT&T makes up about 0.8% of First Bank & Trust's investment portfolio, making the stock its 27th largest position. First Bank & Trust's holdings in AT&T were worth $3,964,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter worth $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new position in AT&T during the 4th quarter valued at about $27,000. Ball & Co Wealth Management Inc. acquired a new stake in AT&T during the 4th quarter worth about $30,000. Finally, REAP Financial Group LLC increased its holdings in AT&T by 115.2% in the 4th 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. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. TD Securities increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on AT&T in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $28.90.

AT&T Price Performance

Shares of AT&T stock traded down $0.56 on Wednesday, hitting $28.32. 46,984,239 shares of the company were exchanged, compared to its average volume of 36,448,016. The company has a 50-day moving average price of $27.72 and a 200 day moving average price of $26.03. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $203.78 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 4.11 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same period last year, the business earned $0.55 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio is currently 68.10%.

AT&T 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.