Webster Bank N. A. Trims Stake in AT&T Inc. (NYSE:T)

Webster Bank N. A. cut its position in shares of AT&T Inc. (NYSE:T) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,617 shares of the technology company’s stock after selling 1,216 shares during the period. Webster Bank N. A.’s holdings in AT&T were worth $768,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in T. Pineridge Advisors LLC purchased a new stake in AT&T during the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T during the 4th quarter valued at approximately $25,000. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter valued at approximately $30,000. Western Pacific Wealth Management LP acquired a new stake in AT&T during the 4th quarter valued at approximately $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on T. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Barclays upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, UBS Group reiterated a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

AT&T Trading Up 1.9 %

T opened at $19.11 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s 50 day simple moving average is $17.57 and its two-hundred day simple moving average is $17.18. The firm has a market capitalization of $137.02 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 4.34 and a beta of 0.60. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.13.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.