First National Bank & Trust Co. of Newtown Lowers Stake in AT&T Inc. (NYSE:T)

First National Bank & Trust Co. of Newtown reduced its holdings in AT&T Inc. (NYSE:T) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,865 shares of the technology company’s stock after selling 3,192 shares during the quarter. AT&T accounts for 0.7% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 27th biggest position. First National Bank & Trust Co. of Newtown’s holdings in AT&T were worth $2,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arbor Wealth Management LLC raised its position in shares of AT&T by 126.7% during the 2nd quarter. Arbor Wealth Management LLC now owns 132,214 shares of the technology company’s stock valued at $4,260,000 after buying an additional 73,881 shares during the period. Bank of Nova Scotia raised its position in shares of AT&T by 81.5% during the 2nd quarter. Bank of Nova Scotia now owns 3,628,884 shares of the technology company’s stock valued at $116,523,000 after buying an additional 1,629,793 shares during the period. Harwood Advisory Group LLC raised its position in shares of AT&T by 53.9% during the 2nd quarter. Harwood Advisory Group LLC now owns 43,854 shares of the technology company’s stock valued at $1,408,000 after buying an additional 15,366 shares during the period. Laffer Investments raised its position in shares of AT&T by 273.9% during the 2nd quarter. Laffer Investments now owns 62,731 shares of the technology company’s stock valued at $2,014,000 after buying an additional 45,955 shares during the period. Finally, MAI Capital Management raised its position in shares of AT&T by 158.6% during the 2nd quarter. MAI Capital Management now owns 263,127 shares of the technology company’s stock valued at $8,449,000 after buying an additional 161,383 shares during the period. Institutional investors and hedge funds own 64.58% of the company’s stock.

Shares of T stock traded up $0.08 on Friday, reaching $30.70. 28,143,495 shares of the stock were exchanged, compared to its average volume of 31,691,092. The company has a current ratio of 0.72, a quick ratio of 0.80 and a debt-to-equity ratio of 0.84. The company has a market cap of $188.47 billion, a P/E ratio of 8.72, a PEG ratio of 1.31 and a beta of 0.58. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $34.53.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. AT&T had a net margin of 10.59% and a return on equity of 13.16%. The company had revenue of $44.83 billion during the quarter, compared to the consensus estimate of $45.20 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. AT&T’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 3.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $2.04 annualized dividend and a yield of 6.64%. AT&T’s dividend payout ratio is presently 57.95%.

T has been the topic of a number of research analyst reports. Barclays set a $32.00 target price on AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Cowen reissued a “buy” rating and issued a $35.00 target price on shares of AT&T in a research report on Thursday, January 31st. ValuEngine lowered AT&T from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Raymond James raised AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Desjardins reissued an “average” rating and issued a $56.50 target price on shares of AT&T in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.32.

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AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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