AT&T Inc. (NYSE:T) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,300,435 shares of the technology company’s stock after selling 97,221 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of AT&T worth $304,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in T. Texas Capital Bank Wealth Management Services Inc lifted its holdings in AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after purchasing an additional 598 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the last quarter. JB Capital LLC lifted its holdings in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after purchasing an additional 614 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its holdings in AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after purchasing an additional 620 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on T. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.73.

AT&T Stock Performance

Shares of NYSE T opened at $18.67 on Thursday. The stock has a 50 day moving average price of $17.67 and a 200 day moving average price of $17.21. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The stock has a market capitalization of $133.87 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 4.27 and a beta of 0.58.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.95%. AT&T’s payout ratio is 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.