AT&T Inc. (NYSE:T) Shares Sold by First County Bank CT

First County Bank CT cut its holdings in AT&T Inc. (NYSE:T) by 9.1% during the second quarter, HoldingsChannel reports. The firm owned 80,417 shares of the technology company’s stock after selling 8,026 shares during the period. First County Bank CT’s holdings in AT&T were worth $1,537,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter worth $25,000. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter valued at about $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Oppenheimer increased their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Stock Performance

Shares of T opened at $21.66 on Friday. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34. The stock has a market cap of $155.31 billion, a P/E ratio of 11.65, a PEG ratio of 3.66 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $20.09 and a two-hundred day moving average of $18.46.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, research analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Company Profile

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.