Webster Bank N. A. Cuts Stock Holdings in AT&T Inc. (NYSE:T)

Webster Bank N. A. lowered its position in AT&T Inc. (NYSE:TGet Rating) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,235 shares of the technology company’s stock after selling 740 shares during the period. Webster Bank N. A.’s holdings in AT&T were worth $1,046,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of AT&T by 16.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,822,788 shares of the technology company’s stock worth $94,041,000 after buying an additional 533,468 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in AT&T by 8.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company’s stock worth $11,435,000 after acquiring an additional 37,205 shares during the last quarter. SBK Financial Inc. purchased a new position in AT&T in the 4th quarter worth $35,000. Fieldpoint Private Securities LLC raised its stake in AT&T by 6.1% in the 1st quarter. Fieldpoint Private Securities LLC now owns 43,258 shares of the technology company’s stock worth $1,022,000 after acquiring an additional 2,501 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in AT&T by 3,605.4% in the 4th quarter. FNY Investment Advisers LLC now owns 41,500 shares of the technology company’s stock worth $1,020,000 after acquiring an additional 40,380 shares during the last quarter. 53.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE T opened at $20.32 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.89 and a current ratio of 0.93. AT&T Inc. has a fifty-two week low of $16.62 and a fifty-two week high of $22.15. The firm has a market capitalization of $145.47 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.15 and a beta of 0.57. The stock’s 50-day simple moving average is $20.09 and its 200-day simple moving average is $22.75.

AT&T (NYSE:TGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The technology company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). AT&T had a net margin of 10.64% and a return on equity of 13.19%. The business had revenue of $38.10 billion during the quarter, compared to analysts’ expectations of $38.29 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Thursday, April 14th were given a $0.278 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $1.11 annualized dividend and a dividend yield of 5.47%. AT&T’s dividend payout ratio is presently 46.84%.

A number of equities research analysts have recently commented on T shares. Royal Bank of Canada dropped their target price on AT&T from $30.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, April 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of AT&T from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, April 11th. Morgan Stanley decreased their target price on shares of AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 13th. Barclays reduced their price target on shares of AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Finally, Moffett Nathanson initiated coverage on shares of AT&T in a research report on Tuesday, April 5th. They set a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of “Hold” and a consensus target price of $24.48.

About AT&T (Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

See Also

Institutional Ownership by Quarter for AT&T (NYSE:T)

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